It seems that there is a problem when converting from b2evo247 to b2evo503. I made first an installation with my production DB, it didn't work. So I made a new installation of b2evo247, and immediately tried to install b2evo5, with the standard 247 DB tables and contents, and had the same problem:

...
Creating DB schema version checkpoint at 9960... OK. (Elapsed upgrade time: 1 seconds)
Creating table for default currencies... OK.
Creating default currencies... OK.
Creating table for default countries... OK.
Creating default countries...

An unexpected error has occurred!

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Additional information about this error:

MySQL error!

Table 'b5.evo_regional__country' doesn't exist(Errno=1146)

Your query:

UPDATE evo_regional__country

SET ctry_preferred = 1

WHERE ctry_code = 'us'
Backtrace:

debug_die( "<p class="error">MySQL error!</p>\n<div><p><strong>Table 'b5.evo_regional__country' doesn't exist(Errno=1146)</strong></p>\n<p class="error">Your query: </p><pre>UPDATE evo_regional__country<br /> \n&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;…" )
File: F:\www\b2evolution5\inc\_core\model\db\_db.class.php on line 664
DB->print_error( "", "", "" )
File: F:\www\b2evolution5\inc\_core\model\db\_db.class.php on line 877
DB->query( "UPDATE T_regional__country \n SET ctry_preferred = 1 \n WHERE ctry_code = 'us'" )
File: F:\www\b2evolution5\install\_functions_create.php on line 763
create_default_countries( "evo_country" )
File: F:\www\b2evolution5\install\_functions_evoupgrade.php on line 2503
upgrade_b2evo_tables( )
File: F:\www\b2evolution5\install\index.php on line 702