Ok well I had a look at the code that was removed. The code for plugins/kdecompat doesn't look like it's using any code from KDE/Qt. The code for plugins/kde on the other hand - which apparently "Integrates the KDE/Qt event loop into Compiz" - has definitely not been ported to KDE5. It's using classes like KApplication and KCmdLineArgs which come from kdelibs4.
So without kdelibs4, plugins/kde won't compile and I would assume that plugins/kdecompat won't work without it. There doesn't look like there's much kdelibs4 specific code; it probably shouldn't be that difficult to replace it, just following the porting guide. But I don't know whether thumbnail previews in dockbarx would work even if the code were ported. It all depends on whether KWin 5 exposes its window thumbnails in the same way the KWin 4 did. Apparently KWin 4 exposed them through dbus [1].
If I get some time at the weekend I'll experiment with this and see if I can get it working but I can't make any promises.
[1] https://bugs.launchpad.net/dockbar/+bug/1329241/comments/1
EDIT: I had a go at porting the kde events plugin to Qt5 and got so far but reached a brick wall with the dispatcher. The dispatcher seems to get raw XEvents and then use Qt4 to process them. But in Qt5 the code for handling XEvents has been removed and I don't think it's straightforward to work around that, not without a much more detailed knowledge of X than I have. In any case, I think I was wrong in assuming that kdecompat needs the kde plugin so it's probably not relevant.
Pinned Comments
<deleted-account> commented on 2018-09-14 14:00 (UTC)
When library names like libprotobuf.so.XX change you just need to rebuild compiz. It's not a problem with the PKGBUILD. This is normal for AUR packages. Packages in the official repos also get rebuilt when libraries are updated.
Note that you shouldn't symlink new library names to old. This will create problems for you further down the line.