AIM 1-2-3 allows a suitable RNAV system to substitute Distance Measuring Equipment (DME)

OWUXO does not have an (IAF) and is therefore not an intial approach fix. It is, however, the final approach fix.

If the glideslope becomes inoperative during the approach, the pilot may continue the approach given they utilize the localizer minimums and adhere to the non-precision altitude restrictions of the approach. This includes adhering to the minimum descent altitude (MDA).

Looking at the diagram of the airport in the bottom left of the approach plate, a letter P inside a circle on the left side of runway 5 can be seen. This denotes the PAPI lights are on the left side of the runway.

Because you have not received an approach clearance, and only instructed to join the localizer, you cannot comply with the altitude resctrictions of the approach plate and therefore must maintain the last assigned altitude of 5000. Once you receive an approach clearance or are given another altitude restriction, then you may descend.