Ouch, sorry for coming across as peremptory - I forgot that we've all had to figure this stuff out from the very basics at one point.
You'll definitely want to get your hop dialled in before doing chronoing. When doing that, you'll want to use the BB weight that you'd intending to play with on the day. 0.2g is fine for short range CQB, and especially if you're using tracers indoors. Outdoors, go as heavy as your hop can lift, and your wallet can afford.
It may very well be the case that your hop unit doesn't need much pressure applied to lift 0.2g. Apologies, I don't have a dial-style hop on my MP5, I have the very short MP5K with a slide-lever unit, which is quite fussy - a tiny nudge can result in over or under hopping. Your dial may be the same, and I hear tell that they like to wind themselves off in use.
What's important is to have as much range as possible to test with, so that you can see the terminal behaviour. With your 1.2J+ gun you can shoot out to a real-world 50-60m, and should be able to get a flattish trajectory for most of that. It can be tricky to see exactly how your gun is shooting when you're the one on the trigger, and having someone else standing off to the side to watch the BB trajectory can help.
There are loads of opinions about ideal hop and trajectory. I
personally like to see the BBs lifting just at the end of their flight so that I can be sure that I've got sufficient hop on. As in,
over-hop slightly, then dial it down just a touch. Here's one I memed earlier.
View attachment 103313
And as above, if you put a few hundred BBs through your gun, or leave the spring cocked for a bit, it should settle down. Chronoing with (properly hopped) 0.25g or heavier BBs should also sort you out. There's even a difference between a cold spring on its first shots of the day, and the same spring after putting a mag through it. I reckon your MP5 will be fine if you just get a
little creative with it.