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Currently, the space segment of all the five satellite systems capable of providing precise time transfer services, namely BDS (including BDS-3 and BDS-2), GPS, GLONASS, Galileo, and Quasi-Zenith Satellite System (QZSS), has almost been fully deployed, which will definitely benefit the precise time transfer with satellite-based precise point positioning (PPP) technology. This study focuses on the latest performance of the BDS/GPS/GLONASS/Galileo/QZSS five-system combined PPP time transfer. The time transfer accuracy of the five-system integrated PPP was 0.061 ns, and the frequency stability was 1.24 × 10⁻¹³, 2.28 × 10⁻¹⁴, and 8.74 × 10⁻¹⁵ at an average time of 10², 10³, and 10⁴ s, respectively, which significantly outperforms the single-system cases. We also verified the outstanding time transfer performance of the five-system integrated PPP at locations with limited sky view. In addition, a method is proposed to mitigate the day-boundary jumps of inter-system bias (ISB) estimates by considering the difference in the satellite clock datums between two adjacent days. After applying a priori ISB constraints, the time transfer accuracy of the five-system integrated PPP can be improved by 37.9–51.6%, and the frequency stability can be improved by 14.8–21.6%, 5.3–7.6% and 20.0–29.6% at the three average times, respectively.