It's never too late to get recruited to a good program if you have talent (which it appears your son has), so don't second guess yourself. He just needs to decide if he could be happy giving up catching to be a PO if that means going to a P5. However, since he is still raw talent as a P, you may need to factor in possibilities such as the P5 taking a chance on him that doesn't work out. Then what? Redshirting is also a real possibility for him if a P5 is taking a chance on him. So would he be ok with that? Or would he prefer to to go with a less competitive D1 or lower level if it means he has a better chance of playing from day 1. Keep in mind that getting a P5 offer is just the start of a very long and tough journey. Those schools are constantly evaluating their commits and players to determine if they are still performing or not. Many of the P5 programs have to make "cuts" after the NLI, but before the kid even shows up for freshman year, because they don't lose as many to the draft as they anticipated (happens every year). (Note: "cut" doesn't mean they revoke the offer/deal, it means they are up front with the kid and say he's not likely to see any playing time so the kid goes elsewhere.)
Whatever he decides he wants, he can then start putting himself on the radars of the schools he is interested in. He should definitely go to the camp if 1) he likes the school academically/socially, 2) he thinks he might like the baseball program, 3) he's okay possibly being a pitcher only, 4) you can afford the camp.
You might also consider getting him to a showcase in the next month if there are any good ones coming up in your area. Let him go as both C and P if he can't decide at this point. If this camp school doesn't work out for whatever reason, then the showcase could help garner attention at other schools. Or at least provide current measurables for both positions which he can use when communicating with other schools. I would encourage him to immediately email the coaches at all the programs he's interested in (see other threads on what info to include in the email). If he's getting a serious look from this P5 school, chances are good that there are several other schools at various levels that would also be interested.