Why would you need a depth of 5"? A typical splitter is only 2-2.5" deep. If it were me doing it, this is what I would do:
1. Get an Old Work 2 gang box (double wide). Cut a hole for it in the wall, and cut the back out of it.
2. Buy a double f connector receptacle from Ram or somewhere else. Mount it on one side of the box.
3. Buy a nice splitter, and run the incoming connection to the in, and 2 outs with short pieces of coax. (make the pieces long enough so you can loop them rather than bending them. You can shove the extra into the wall out of the rear of the box.
4. Run the outs to the 2 f connectors.
5. Buy (when you buy the box) a decora style wall plate with an opening on one side and a blank on the other (you can get this at home depot or lowes.
The splitter goes on one side and is covered by the blank, the receptacles are on the other side.
An alternative, although not as clean is to do as suggested with the drill. Do the same double gang box, but buy a full double gang blank plate and drill holes in it and mount the splitter directly into the wall plate.
It can be done, just need to be creative. It sounds like a hack job, but if you do it right, it'll totally look professional.