my preferred location of the toilet is about 4-5 feet away from the existing location

Technically you can "relocate" but it is safe to say it will be to costly, impractical, ugly and all round not worth it for most people to completely relocate.

So it might be better to say can adjust the layout but not relocate. If you want to chat more on this PM me. Too complex to simply reply without having a better understanding and more information.

Unless you are willing to spend a couple of thousands, and it really is a must, I would not recommend it. You need to hack out the floor, relay the pipings, waterproofing, etcs.

Technically, it is entirely possible. You will need to change to a P-type trap WC (often wall mounted) and run the sanitary pipe along the wall to connect to the existing outlet. If the distance is too far, you may need to install your WC at a higher than usual position, or raise the floor of the new bathroom so that the WC P-trap is high enough for the sanitary pipe to flow with the minimum allowable gradient. The licensed plumber of your contractor would be able to advise. Technically it is also possible to expand your bathroom out over existing dry areas, as long as waterproofing is properly applied on the floor and walls. However, your MCST may or may not allow that, depending on how fussy they are.