To me the macros seemed more complicated that they had to be
This is another way
Option Explicit
Sub GenerateCombo()
Dim r As Range
Dim v As Variant
Dim n1 As Long, n2 As Long, n3 As Long, n4 As Long, n5 As Long
Dim rowCount As Long, colCount As Long
Dim N As Long
With ActiveSheet
Set r = .Range("A1")
Set r = Range(r, r.End(xlDown))
v = Application.WorksheetFunction.Transpose(r)
N = UBound(v)
rowCount = 1
colCount = 3
For n1 = 1 To N - 4
For n2 = n1 + 1 To N - 3
For n3 = n2 + 1 To N - 2
For n4 = n3 + 1 To N - 1
For n5 = n4 + 1 To N
.Cells(rowCount, colCount).Value = v(n1) & "," & v(n2) & "," & v(n3) & "," & v(n4) & "," & v(n5)
rowCount = rowCount + 1
If rowCount = 100001 Then
rowCount = 1
colCount = colCount + 1
Application.StatusBar = v(n1) & "," & v(n2) & "," & v(n3) & "," & v(n4) & "," & v(n5)
DoEvents
End If
Next n5
Next n4
Next n3
Next n2
Next n1
End With
Application.StatusBar = False
MsgBox "Done"
End Sub