If you're planning on beefing that splitter up I'd just start from scratch. Beam is too small for a 5" cylinder, attachment points are the same, valve is pushing the limits @22gpm. (I'm saying this from experience, and destroying several versions of my current splitter)
It's expensive to get into larger higher flow hydraulics. Been slowly collecting parts for a mini processor over the past year or so, had most the steel for years now, actually using mic channel instead of I beam, but that's another story for the reason (s).
Any who, this still brings us back to the issue at hand. Without a basic pressure gauge it's impossible to tell what's going on. A simple T and 3k psi gauge before the inlet of the valve will give us a pretty good story Of what's going on
The best I can tell from the picture of your valve is it's an internal, non adjustable relief model.