Yes, LSWS should bundle with php5. Every time I install LSWS to a new server, I need to spend a lot of time to compile and install PHP5 manually. The compiler in admin panel always has problem.
A very ridiculous thing is both lsphp4 and lsphp5 in fcgi-bin link to the same PHP4 binary. How lazy is the Litespeed team do this, LOL.