In addition to official releases of Final Fantasy V, the romhack Project Demi is also permitted. Note that you still need to provide your own ROM to be patched.

This hack streamlines the process without affecting gameplay. It removes or drastically shortens most cutscenes and adds several quality of life features, such as innate overworld dashing and the ability to turn off random encounters.

Project Demi is based on the SNES version and includes all of the quirks of the original. The translation it uses, however, can be slightly confusing for players used to more modern translations.

Disabling EXP gain is available natively in the Pixel Remaster version, and since it's an important part of a low level run, I've compiled sets of cheat codes to do the same on SNES and GBA.

SNES Cheats to stop EXP gain:

Name Game Genie Code Address Value
Remove Exp For Enemy #1 DD7D-23E8 7E3F0B 0000
Remove Exp For Enemy #2 DD74-23E8 7E3F2B 0000
Remove Exp For Enemy #3 DD70-23E8 7E3F4B 0000
Remove Exp For Enemy #4 DD71-23E8 7E3F6B 0000
Remove Exp For Enemy #5 DD76-23E8 7E3F8B 0000
Remove Exp For Enemy #6 DD7C-23E8 7E3FAB 0000
Remove Exp For Enemy #7 DD7A-23E8 7E3FCB 0000
Remove Exp For Enemy #8 DD7E-23E8 7E3FFB 0000

GBA Cheats to stop EXP gain:

Name Gameshark Code Address Value
Remove Exp For Enemy #1 2201F0C8 00000000 0201F0C8 0000
Remove Exp For Enemy #2 2201F15C 00000000 0201F15C 0000
Remove Exp For Enemy #3 2201F1F0 00000000 0201F1F0 0000
Remove Exp For Enemy #4 2201F284 00000000 0201F284 0000
Remove Exp For Enemy #5 2201F318 00000000 0201F318 0000
Remove Exp For Enemy #6 2201F3AC 00000000 0201F3AC 0000
Remove Exp For Enemy #7 2201F440 00000000 0201F440 0000
Remove Exp For Enemy #8 2201F4D4 00000000 0201F4D4 0000

If using Bizhawk (or any emulator that supports the same cheat file format), you can download the pre-made files that will automatically apply these cheats when loaded.
SNES Cheats File GBA Cheats File

Over the course of the run, you'll almost certainly need to reference some information about the game. While the fandom wiki does contain a lot of information, it frequently has errors, is very cumbersome to use and fandom doesn't deserve the traffic if it can be helped.

Caves of Narshe - A wealth of info about FFV (and most of the classic Final Fantasies) that's very well organized and easy to navigate.

mog07's Algorithm FAQ - GameFAQs has many very thorough guides and this is one of my favorites. It details the AI script of every enemy in the game, letting you see which abilities they can use and when.

Enkibot - A fiesta-oriented tool that displays helpful info about each part of the game based on your jobs.