Dot 5 fluids are silicone....Dot 5.1 is ether based like Dot 3/4. It typically has a higher boiling point then the others, but it won't make a [censored] bit of difference if you are having brake issues with Dot 3/4 on a street car. If you are getting your brakes that hot, its time for a brake upgrade.
My best advice is to use a high quality Dot 3 or 4 fluid, and keep it fresh by flushing the system every year or so. Ether based fluids are hydroscopic, and will absorb water over time. This lowers their boiling point significantly, and can lead to various issues. If you keep it fresh, these issues can be avoided.
That said, with regards to "compressibility", a Dot 3, 4, or 5.1 will all be the same. If your pedal is mushy, try fresh fluid of any type, then look at the brake lines. Rubber brakes lines can expand as they age causing pedal issues. A nice pair of new rubber or even stainless steel lines can make for a very firm brake pedal. But note, stainless steel lines on a street car can run into issues with wear as grit gets trapped under the stainless braiding and wears the rubber/teflon tube below....but that's something that is often debated.