TSR has some (somewhat) outdated information on this. It has to do with how many balls you get to determine how many "packages" you get to even have a chance at any given reward set; the odds of a CTM in any given package from a 5* raid is, if I recall correctly, 1.8%ish. Roughly 1/185,000 if my percentage is correct.
Edit: 1 in 171,000.
Even if my percentage is wildly off as I'm doing it from memory, it's not until you pass 6-7% that it becomes "frequent"