In this paper a role of many-nucleon dynamics in formation of the compound $^{5}{rm Li}$ nucleus in the scattering of protons off $alpha$-particles at the proton incident energies up to 20 MeV is investigated. We propose a bremsstrahlung model allowing to extract information about probabilities of formation of such nucleus on the basis of analysis of experimental cross-sections of the bremsstrahlung photons. In order to realize this approach, the model includes elements of microscopic theory and also probabilities of formation of the short-lived compound nucleus. Results of calculations of the bremsstrahlung spectra are in good agreement with the experimental cross-sections.