Yes I get this occasionally when I go way over 5 minutes by mistake. If it happens it cleared up in 2 days rather than overnight. For me it happens less using the feet as the gripping mechanism.
Its all about the amount of pressure you’re putting into you grip. Its really easy to loose concentration and grip harder. I find that it doesn’t happen if I just concentrate the pressure of the grip on the sides and minimise the pressure as much as possible without risking a loss of grip.
You could also try an alternate wrap, maybe thera or swimcap to see if that works better with a lesser grip. An alternate grip might help too, say overhand with two fingers or even a two handed jelqsticklike grip (fore and index fingers gripping the penis, second hand grips fingers below).
It is an indicator that circulation is being reduced more than is desirable and with a 5 minute stretch thats a problem. If you continue to get this, you may want to consider stretching for less time before regaining circulation. maybe 2-3 minutes.