Ty Cobb’s alleged racism was fabricated by his crook biographer and others.
I agree with the comment that this is about sportsmanship not political correctness.
As for punishment, I am a believer in the adage that a mistake is a mistake if you make it twice. Give the guy a reprimand with fair warning that next time he will be suspended for a month.
A 5 game suspension next year that will probably be slid into the pre-season is basically a reprimand.