That sounds a bit too tight to me. I always get a ping but it doesn’t sound as high a note as that. Try slackening it off a bit.
Olson reverse tooth #5 should eat a 6mm piece of ply.
Agree with bodgerbaz on both counts - blade tension sounds a bit too high; AND it sounds a bit "dead" (more of a "clunk" that a musical "ping"). And agree, Olson No 5R should "eat" 6mm, ply without breaks.
If a bit less tension doesn't cure the problem try another blade make or tooth type - e.g. I like Pegas (RGT - "Revised Geometry Teeth", or something)!
But all these things are a bit subjective, and difficult for others to solve at a distance.
At the end of the day a lot depends on "the operator" and his/her personal preferences. I think that most on here have developed the "right setup for each job" by a bit - a lot? - of "try this, try that". Certainly in my case anyway.
So try a few different things - ONE AT A TIME PLEASE! - to find what works best for YOU. E.G's: blade No; tooth shape (Reverse, Skip, etc); manufacturer; machine speed; tension; etc.
AND are you quite sure the ply you're cutting is OK? E.G: no broken staple hiding in the core, or something like that?