My company offered a 5% annual increment. Should I accept or push back?

Context: I've been here 2 years, consistently exceeding targets, took on a team lead role informally for 6 months, and the market rate for my role has moved up. The 5% is their standard across-the-board increment.

I've been reading a lot about negotiation and the common advice is to counter with data. I have it — I know the market rate and I know my contribution. But I'm in a company where pushing back on HR decisions is culturally unusual.

Has anyone successfully negotiated above the standard increment here in Malaysia? What framing worked? And what happens if they say no — do you just accept it or does it accelerate the decision to leave?