Howdy,
At least you have taken the correct steps to figure things out. Researching the manufacturers recommendations is a important part. Yes, I would say that your control box has the added wizardry for soft start. When someone talks about a 5hp motor on a farm, it is a good size load for starting and running. Since you say its for irrigation, you then have tractors as well. Since this is all wired into your system, you will need to think about how it will all connect into your panel. Some questions below.
1. what is your service? type? (pole top, underground, separate meters)
2. distance from panel to this pump control box? Do you have a smaller panel in your pump house?
3. how many times do you lose power?
4. do you have any other wells on the farm?
5. besides powering the well, what other power things do you want to run? do you want to run it all at the same time? or run the 5hp pump, then shut that breaker off and run everything else?
self contained mounted genset system, open inside genset system, pto generator system?
My "farm" is just as a hobby. About 60 fruit trees, some blueberries and raspberries, lawn sprinkling and a big garden. Everything runs off of the one well which is wired into the house electrical panel. I don't lose power much and can run what I need on a small generator; except for the water well (I think, haven't tried yet). That gets old in a hurry with five kids, though. I plan on filling the pressure tank and then shutting off the well. I don't need the whole house powered and am content to flip some breakers to save money on a larger genny. If have to go bigger than my 7,500W continuous 9,500W peak portable unit; then I probably will get a PTO unit for the JD.