Backport of [VAULT-28666] Remove the errexit option from the retry script and add increasing wait on failure (up to 5 seconds and 5 retries) into release/1.17.x

Backport of [VAULT-28666] Remove the errexit option from the retry script and add increasing wait on failure (up to 5 seconds and 5 retries) into release/1.17.x #16384