Which solution will meet these requirements?
Create a read replica of the DB instance.
Create a template of the DB instance by using AWS CloudFormation.
Take frequent snapshots of the DB instance. Store the snapshots in Amazon S3.
Modify the DB instance to be a Multi-AZ deployment.
Explanations:
A read replica enhances read scalability but does not provide high availability or quick recovery for the primary instance.
Creating a CloudFormation template does not affect the availability or recovery of the existing DB instance.
Taking snapshots is useful for backups but does not ensure high availability or a recovery time of less than 5 minutes in case of failure.
Modifying the DB instance to be a Multi-AZ deployment provides automatic failover and high availability, ensuring a recovery time of less than 5 minutes.
I assess that the answer is:
Modify the DB instance to be a Multi-AZ deployment.