At the moment, yes. I didn't think about it since I had a few opportunities to get a Master Ball, but I can make it to where it resets after beating the Elite 4 if you didn't catch him. It would just trigger the wild battle.
Worst case scenario is starting a new game when I do the update, but if that's the case, I'll send you a link to a copy specific to you for which other 4 Pokémon you want to start with at level 5. :)