What can I say. Found a lot of help here, so all of you are my heroes.
Got another question… why do I need that capacitor inline?
I mean I kinda understand why it should be there, but shouldn’t be already a similar circuitry built inside of the preamp, considering I could add any mic requiring Phantom power to it?
Can’t say if this “supposed to be there circuit including that decoupling capacitor” works only when switching to +48V mode or is supposed to work also in On mode.
If I remove the capacitor and test +5V without it, do I risk anything?
Yes, the internal circuitry of the pre-amp. It’s not build to amplify a DC signal, so offering it will probably damage or totally destroy the circuits inside, even at 5V. The capacitor is there to filter out the DC component of the phantom-power with the mic signal superimposed on it. As stated earlier, the signal from the mic is in the mV range, so 5V is really way too much, the transistors and FETs can’t handle that, especially on the input side.