What I see here is classic Oda non-showing thing:
- we don't see the charging of techniques (so no trails);
- we did not see the hits, because are covered by Kizaru "light".
What we do see is Luffy visibly worried, wich wouldn't have any sense if he wasn't using all he had. And in fact he goes G5 right after.
By the way, if you are expecting to see trails or the no touching now with G5, better think again because there weren't any even though Kaido explicitly said Luffy was using CoC :