@IndieRetroNews they report that a new English translation of Wizardry  V has been produced and fully uncensored for the SNES.

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@VizionGamer contacted us recently about a new English translation and fully uncensored version of Wizardry V : The Heart of the Maelstrom that had been announced via the Romhacking website. This game which is a dungeon crawler and available to play on an SNES, was already released in North America but however decent it was, it didn't the better qualities of the version that was released in Japan. All references to nudity, alcohol, blood, violence, and religion were replaced in the North American version and this hack not only keeps the English intact but removes the censorship so players can experience the game as it was intended.

Also as noted by RomHacking This hack translates the switch/options screen in the Japanese version of Wizardry V: Heart of the Maelstrom into English. It also changes the default character names, the default language, and the default character set to use when naming your characters. The Japanese version of Wizardry V already had the ability to display text in either English or Japanese, but English players had to navigate the untranslated switch menu, which had five different switches for changing different parts of the text from one language to another. This hack combines those into a single switch that controls all of the in-game text. Additionally, several grammar errors in the game's text were corrected.

A deep dose of nostalgia as the CRPG Addict writes about wrapping up his playthrough of Wizardry 5:

Mapping Level 7 took a long time, mostly because I kept running into monsters bent on killing me for good. Repeatedly, I had to fight parties with multiple spellcasters who thought nothing of casting mass-damage spells like LAHALITO and LADALTO, wiping out half my party members in a single round. Eventually, I got so sick of returning to the surface to raise my dead party members that I simply started reloading every time one of them died. Thus did I start on the slippery slope to the CRPG scum that I ultimately became.