If it feels good and sounds good, what does it matter. Don’t worry about the gear snobs. Just because they have the money or connections to get high end gear shouldn’t make you feel inferior. Live within your means and make music.
Play what feels and sounds good to you if it’s in playing condition. Keep it in good shape and don’t ask or listen to what other people think. It’s the sound.
It depends on what type of music you play. There are many contemporary Christian song arrangements that use the lower notes only available by using a five string.
Picks can make a bass sound tinny, if not careful and don’t make equalizer adjustments. I do use one occasionally on songs that are high tempo. I like to use a rubber pick on some songs.
For what it sounds like you are wanting to play a pick might be better sound wise. But don’t limit yourself to that style. It depends completely on the song you are playing.
You can use the Dearmond because it is a hollow body and the tone should be good. Otherwise, just put a slice of a foam sponge under the strings of your P bass which deadens them as you play and gives it more of an upright bass sound.