I have tested PAF with both versions 4.2 and 5.0.0alpha of CXO. Installs without the need for DCOM95 on both versions. Pedigree tab now works, and reports seem to work as well. The biggest problem at this point seems to be the fact that PAF still crashes when clicking on the "Individual" tab, but that may not be much of a problem if you don't use that tab.
There are some regression problems with the 5.0.0alpha version of CXO, but hopefully, those will get fixed before the final release of 5.0 final.