Here is a hack that works for trying out the snapshots in Swift 5 mode:
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Edit the file
/Applications/Xcode.app/Contents/PlugIns/Xcode3Core.ideplugin/Contents/SharedSupport/Developer/Library/Xcode/Plug-ins/XCLanguageSupport.xcplugin/Contents/Resources/Swift.xcspec
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Search for
SupportedLanguageVersions
and add 5.0 as a valid value.