2. is correct. The first is not very natural.
Student or Learner
Are these sentences correct?
1: I'm sorry for being late for five minutes.
2: I'm sorry for being five minutes late.
1 is incorrect. People aren't late "for" a period of time (unless you're talking about a habitual action).
I'm sorry for being late by five minutes.
I'm sorry for being five minutes late.
If you want to use "for", it would be something like:
He was late every day for six months.
Remember - if you don't use correct capitalisation, punctuation and spacing, anything you write will be incorrect.