The requirement to retain immutable object versions using a WORM model mandates the use of S3 Object Lock, not just S3 Versioning. Object Lock enforces immutability by preventing deletion or modification of objects for a specified retention period, which is required for compliance scenarios such as regulatory data retention.

To meet the access requirement of retrieving data within 5 hours, the appropriate archival storage class is S3 Glacier Flexible Retrieval, which supports expedited and standard retrieval within minutes to hours. S3 Glacier Deep Archive does not meet this requirement because retrieval times are typically 12 hours or longer.

Using S3 Intelligent-Tiering for active data optimizes storage costs automatically before transitioning older objects. A lifecycle policy can then transition objects older than 1 year to Glacier Flexible Retrieval and delete them after the 7-year retention period expires.

Options that rely only on S3 Versioning do not provide immutability guarantees. Options using Glacier Deep Archive fail the access-time requirement. Therefore, Option C is the only solution that satisfies WORM compliance, retrieval-time constraints, and cost optimization.