no, camera raw 6.7 is the latest ps cs5 compatible version.
you need ps 6 or ps cc to use 7.1
If you're trying to import Raw files files from a camera which requires Raw 7.1 or later then your other option is to convert the Raw files to DNGs using the free DNG converter from Adobe
You can then edit the DNGs in CS5.
What John Waller says:
Download the free, stand alone DNG Converter, version 8.1, install it, launch it, run it by aiming it to the folder containing the raw files you want to convert and it will convert the raw files from any supported camera into raw DNG files which you can then open in your version of Camera Raw, ACR 2.4 or higher.
There will be no updates for your version of Photoshop or Bridge—ever.