Not a common error by any means and there are several blog posts out there pertaining to other error codes.
Marnix Wolf has a great article about Error 2147500037

If you get error 5 (0x5) however this means that SCOM is unable to create self-signed certificate.

In our case local system did not have full permissions to the server C:\ProgramData\Microsoft\Crypto\RSA\S-1-5-18 directory. Added that and the service started right up.