theres a couple of things with your provided information.

#1 there isnt an official release of the RetroPie software for the Raspberry Pi 5

#2 more importantly, the Pi5 can emulate (barely) original Xbox games and not very well.

the Raspberry Pi 5 will never, and I mean NEVER play Xbox 360 games, so using your kinect for 360 games in not a possibility. the kinect might work in some other way with other emulators and motion games, but i dont know and doubt it, because no one is working on any software to make the 360 kinect sensor work. also a very important note: the Xbox 360 used special GPU instructions called AVX and not only will ARM processors never work with this, but many Intel chips wont use it either.

I dont say never very often, because there are some amazing programmers out there that make magic happen sometimes, but this isnt one of them.
Xbox 360 emulation will never work on a Raspberry Pi 5, sorry :-/