@Wingmannedbro it should be higher than 5% considering her mobility and having the smallest hitbox in the game. Wraith relies on her small hitbox, erratic movement, and mobility to outmaneuver and outgun opponents. As such, rounds on target should be dropping her. BUT, to be fair, if she did receive a higher penalty, other parts of her should be buffed in order for her to still be viable. (I hate Wraith but it's only fair.) Perhaps having a higher base movement speed, insta-cast Q with less visible particles and a longer up-time, longer tunnels, etc. etc.
https://apexlegends.gamepedia.com/Weapons#cite_note-Damage_per_bullet-1
Going down the list of weapons all in order, the 5% damage increase decreases total shots to kill on most weapons down by one. Save for the Mastiff, EVA, Peacekeeper, Mozambique, Wingman, and Kraber. The reason I feel the penalty should be higher is because that one round feels negligible in every shootout.
https://www.rockpapershotgun.com/2019/03/08/apex-legends-r-99-stats-dps-ttk-spray-pattern-r99-smg-tips/
https://www.rockpapershotgun.com/2019/03/08/apex-legends-r-301-carbine-stats-dps-ttk-spray-pattern-r-301-tips-2/
Using the three most popular weapons (IMO), the R99, R301, and Wingman, I compared the TTK with and without the 5% damage increase. Take the TTK for the R99. Using simple proportions (17/16 = 0.89/x), we see that the difference in TTK (comparing with / without "Low Profile") is 0.89s / 0.83s. For the R301, 1.04s / 0.97s. For the Wingman it stays the same at 5 shots to kill, a 3.25s TTK. The difference is so minute that it doesn't have impact, and because it doesn't have impact it feels like this "nerf" is in name only. Essentially something the developers just casually threw out there to appease angry people (like the abandonment penalty) who were complaining about Wraith. It's a sloppy, unnecessary, poorly thought out band-aid to try and bring more characters into routine play.
Do I hate Wraith? Yes. Do I think she should've been given the "Low Profile" "nerf" in the first place? No. But, since it's in, it should've at least had an impact that was noticeable. Like the "Fortified" perk. That's a visible, noticeable, dangerous difference in survivability in both Gibralter and Caustic.