I figured out the issue myself, so I thought I will pass it along in case it happens to someone else.
The issue turned out to be the docker-compose.yml file was not pulling the new version properly from the ENV file. I tripled checked it to make sure I didn't mess it up, even pulled down a new copy and changed the version to 6.0.x.x. Still a no go as it was still starting the version 5.0.x.x
Since the system had successfully modified the DB, making the DB incompatible with version 5.0.x.x and the docker still attempting to turn up version 5, thus the failure.
Solution was to manually change the docker-compose.yml to the correct version 6, execute docker-compose up and all is well. I have no idea why only the version variable was not working properly since all other variables do.
-Paul