Device Manager is telling you the truth. The CH340G driver is loaded and connected to COM 5.
Now there are 3 problems left: 1) Will the program compile correctly? 2) Is the proper device selected? 3) Is the proper COM port selected and attached to avrdude?
Check compilation by using the up-arrow in the menu. This will compile the program but will not attempt to upload it. You can also make the messages show up so you can see what is going on. You can also try to compile the "blink" program and upload that. Note that the blink program only flashes a led -- it does not provide a driver for any lcd.
Check that the proper device is connected in the Tools menu. Select "nano" and be sure it is greyed out so that the IDE knows it. It will also show up in the main Tools menu. Click on it with the mouse a few times if unsure.
Right under that is another menu item for COM ports. Click on that and be sure that "COM 5" is an option. If so, select that.
Now try another compile and upload. If you are still getting timeout messages...well the answer is elusive but I have found that often it has to do with reset timing. Holding reset for a few ms. at the beginning of upload is vital to success. It was mandatory in the early Arduinos; avrdude is supposed to do that and the CH340 provides a proper interface. I have a suspicion that avrdude has not quite kept up with the times though and doesn't always assert that reset properly. You can do it if you wait until the message appears that compiling has finished and uploading is about to begin. Manually hold down the reset button until then, or shortly thereafter. It is tricky but it often works. This problem with the reset is everywhere in Arduino, and avrdude gives only a generic (unhelpful) message about it.
I suspect that this may be your fundamental problem. But there are a host of others. The IDE is a bit flaky as Jack and others have noted.
john
AD5YE
