A couple of thoughts on this. First, 4.MD.1 is about converting from larger units to smaller units, not the other way around. Converting both ways is in 5.MD.1, which in fact mentions as an example the exact conversion you give, 5 cm to 0.05 m. The reason for this is that multiplication of whole numbers by fractions doesn’t occur until Grade 5. However, you are right that this particular conversion could be discussed in Grade 4, using both 4.NF.6 and 4.NF.4, which enables students to see 5/100 as $5 \times 1/100$. Still, it is not required in Grade 4. And your second example is even less required!