Step 1: Recall the Airy disc radius.
A parallel beam through a circular aperture focused by a lens forms an Airy pattern. The linear radius of the central bright spot on the focal plane is $r = \dfrac{1.22\,\lambda f}{d}$.
Step 2: Convert the data to SI.
Wavelength $\lambda = 500\,nm = 5\times 10^{-7}\,m$, focal length $f = 20\,cm = 0.2\,m$, aperture diameter $d = 5\,cm = 0.05\,m$.
Step 3: Plug into the formula.
$r = \dfrac{1.22\times (5\times 10^{-7})\times 0.2}{0.05}$.
Step 4: Work out the numerator.
$1.22\times 5\times 10^{-7} = 6.1\times 10^{-7}$, and times $0.2$ gives $1.22\times 10^{-7}$.
Step 5: Divide by the diameter.
$r = \dfrac{1.22\times 10^{-7}}{0.05} = 2.44\times 10^{-6}\,m = 2.44\,\mu m$.
Step 6: Conclude.
The radius of the central bright diffraction spot is about $2.44\,\mu m$, which is option (4).
\[ \boxed{r \approx 2.44\,\mu m} \]