Yes, there is a script.
The script is called
Circle.jsx by Hiroyuki Sato
You can run the script and then just choose how many anchors you want your circle to have.
Ovalize.jsx is the new version of
Circle.jsx which didn't perform the extra stuff which Ovalize does, it only created a circle by custom amount of points (which is what you want).
If you wanted to use Ovalize, you'd have to create a path first. (You can make an ellipse and then run the script and select the amount of points and it will adjust.)
You can still download
Circle.jsx from their website.
The old version of Ovalize.
This script draws a circle that has specified number of anchor points at the center of the active artboard.
Just download the zip file which has lots of other useful scripts as well,
Circle.jsx will be in the folder
If you always want to have 5 point ellipses and save a couple seconds by skipping the prompt, you can modify the line in the script from
number_of_anchors = prompt("number of anchors", number_of_anchors);
number_of_anchors = 5;
and then save the script as something like