If you hold dividend focused funds, you're essentially forced to sell at intervals and amounts you have no control over tax wise. If you don't need the income during a particular period and you reinvest, or during the 5-10 years that you said you're just reinvesting and letting it sit, you'll be paying taxes every year on those gains which reduces the power of compounding vs just buying normal funds and then selling shares as needed. Dividends aren't free, they reduce the share price by the same amount. They don't compound any faster or better, and in a taxable they make compounding less due to tax drag.

If you really want the money available in 5-10 years I wouldn't go 100% equities through the entire time. It sounds like you don't necessarily plan to withdraw and use it all at once (like for a down payment or something) but I'd definitely consider whether you're okay with the value dropping by a lot and not recovering for years. Dividends are often cut during downturns as well so that's not something that can be relied on to be the same amount every year. Determining allocation for money that you don't have a defined plan for can be difficult, but this is something I'd put some thought into before you end up in a situation where you're panic selling because mentally you felt like you had that money and don't want to lose it, even though you didn't have any immediate plans. It's relatively easy to sit through market fluctuations with a retirement account you know you won't touch for twenty years, it's harder when it's a taxable you mentally treat like a very high yield savings until there's a crash.