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This is a very difficult problem to solve. Theoretically the best solution would be to employ an OPF algorithm with its objective being voltage profile improvement, and its control variables being the locations of capacitor placement.

However I don't think any of the available OPF objectives in PSSE is suitable for your use. Even if there is one, control variables still won't suit your problem.

Rewriting an OPF algorithm using Python for the dimension of your problem (5000 bus) is probably out of question as it involves deriving complicated Hessian matrices.

You could run numerous load flows to check impacts of different placements, i.e. trial-and-error type approach, but it won't be optimal.