I think that there is no pseudo-disk arrangement even with $\binom{5}{3}$ pseudo-disks for the 5 point case; I sketch a proof below.
Suppose for contradiction that there is such an arrangement.
Let $a_1,\dots, a_5$ be the points. For each closed Jordan curve $c_{ijk}$ that surrounds $a_i,a_j$ and $a_k$ we define a Jordan arc $d_{lm}$ that connects the remaining two points $a_l$ and $a_m$ in the unbounded region of $c_{ijk}$. We should define the $d$-curves in a way that there are no touchings between them or with the $c$-curves, and also we should make sure that the number of curve incidences in the whole picture is finite.
I claim that a pair of $d$-curves that don't share an endpoint must intersect an even number of times Wlog. consider the curves $d_{12}$ and $d_{45}$. The closed Jordan curves $c_{123}$ and $c_{345}$ together define four regions in the plane, one unbounded, one containing $a_1$ and $a_2$, one containing $a_3$, and one containing $a_4$ and $a_5$. Let $I$ be the union of the three bounded regions. Notice that the boundary of $I$ is made up of two curves, one is an arc of $c_{123}$, while the other is an arc of $c_{345}$.
Since any intersection point $q \in d_{12} \cap d_{45}$ must lie outside $I$, both $d_{12}$ and $d_{45}$ has at least one arc outside $I$. Consider the space $\mathbb{R}^2/I$. In this space, the curves $d_{12}$ and $d_{45}$ become collections of closed Jordan curves that contain the point $p$ that is the picture of $I$ in the contraction. Since one boundary arc of $I$ is only intersected by $d_{12}$ and the other only by $d_{45}$, the curve endigns around $p$ are `separable', i.e., if we label each curve ending by $a$ for the curve $d_{12}$ and by $b$ for the curve $d_{45}$, then the cyclic order of the labels around $p$ is $a^{2k}b^{2l}$ for some positive integers $k,l$.
Let $g_1,\dots,g_k$ be the closed Jordan curves of $d_{12}/I$ and let $g'_1,\dots,g'_l$ be the closed Jordan curves of $d_{45}/I$. In order to show that $|d_{12} \cap d_{45}|$ is even, it is sufficient to show that $|g_i \cap g'_j|$ is even for any pair $i,j$. We have seen that $g_i$ and $g'_j$ are two closed Jordan curves that touch at the singular point $p$. It follows that they must have an even number of crossings.
The $d$-curves give a planar drawing of the 5-clique, where the curves corresponding to any pair of non-incident edges intersect an even number of times. This contradicts the strong Hanani-Tutte theorem.