Hey,
For that particular mod, it's your Compass' Calibration Level that need to be 5, not your reputation rank.
To increase the calibration* level, you need to complete the weekly challenges that award said levels. You've already completed the 3 from last week, so you only need to complete two of the ones available this week (Wayfinder's Voyage II, Umbral Wayfinder II or Ley Line Secrets) and you'll be able to collect your mod.
*Edit - used reputation instead of calibration, sorry for the confusion
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Thank you so much for the reply! Is there anywhere we can check to see what the calibration level is for future reference? Without being able to find it, I can see how it can get confusing.