yea i was confused too... cuz you did say that if you put a battery in that has 5 volts still on it then you will get 5 volts out... but that doesn't exist, there is no single cell lithium battery in an 18490 or 18650 format that will EVER put out 5 volts (it will vent flame or at least burst or leak or fail if it ever got near that high)... so it was pretty confusing
either way, are you getting that voltage with a load attached, because i do know that i've read that provape suggests not to use the provari without a load (carto/atty) attached, and from the literature, i am thinking that it will not put out the correct voltage by design if there is no load because it is made to sense the load and if it is open it will not put out correctly, though i think it is supposed to not put out anything, so something is still wrong
but for the future, i would look into wether or not you can actually check the output voltage of the provari with just a multimeter touching the output contacts, because you inherently can't have a load on the device if you are touching a multimeter to the contacts...