Released in 1994, this anime is a four-episode original video animation (OVA). It was only released on VHS. It didn't gain enough popularity for a release on DVD or Bluray.
The story is a continuation of the events from Final Fantasy V. Two hundred years after Batz and his friends saved two worlds from the threat of ExDeath, a threat arises and seeks to take the Crystals for itself. Linaly, a descendant of Batz, and her friend/protector Pritz journey to the Temple of Wind to seek the source of this new danger.
This anime is loosely based on Final Fantasy V. The creators took a lot of liberties with the changes. It still has the five main characters of the game. It has chocobos and airships. The story revolves around the elemental crystals, just like in the game.
With the “Final Fantasy” title slapped onto this anime, you'd probably be expecting something grand and awesome. It's actually a pretty average, cartoony anime. Don't watch it with high expectations or else you'd be setting yourself up for disappointment. It's not a bad anime, though. I think it's cute. The nostalgic factor is high if you're a fan of the game and 90s anime. I especially love that the English voice actors here are the same ones from Tenchi Muyo. Back then this anime was commonly available at Blockbuster Video, so with the wide exposure, it gained a nice little fanbase.
You can watch all four episodes of the Final Fantasy V Anime on my anime streaming site, The Anime Video Archive. It's a VHS transfer (since there wasn't a DVD release), so the quality isn't HD. But at least in terms of VHS transfers, it's a high-quality transfer.