Why do you think that it may help you? Do you know how much data in your database?
As 5.0 is so old I even not remember how to check the actual size of data in the Database. But I think you can do the integrity check, and in this report, you will have this information in last rows.
And then if you will have less than 10-20% of free space, I think it will not be needed for you. And with this report, you can see how big all globals in this database, and if some useless globals may be unexpectedly exists or have unexpected size. If so, you should check your code, why it could happen and remove it, so you can increase free space, which can be used then for grown useful globals.
If you will have so much free space, which you want to free, you can use ^GBLOCKCOPY, to copy all or only useful globals to the new database.