These numbers indicate which processing batch your return belongs to. 2020= the year (I am guessing you knew that). The first 05 means the 5th week of processing, and the second 05 refers to the day of the week. It represents Thursday. That also tells us that your cycle updates weekly.
What that all "means" - your return began processing in the fifth cycle of the year 2020. Your data is only going to update to your transcript once per week, on Thursday nights, so you will save yourself some frustration by checking Friday mornings and not worrying over it the rest of the week.
Things are still happening in the meantime - you could even get your refund - but you are not likely to see any updates to your transcript other than after your "batch" (20200505) processes.
