I have a basic old Bushnell rangefinder which is 6x21.
The magnification isn't a problem. I don't think either 5x or 7x would be too much or too little in any situation so really comes down to personal preference. The downside I find with mine is a somewhat narrow field of view and the glass isn't great (adds quite a stong blue tint).
Honestly there are some pretty decent rangefinding binos which are a better way to go these days. Less stuff to carry and means you can go straight from binos to rifle without needing to find the animal again and range it in between.
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