Start with an otherwise general, odd-symmetry 5th-order parameterized polynomial:
$$\begin{align}
f(x) &= a_0 x^1 + a_1 x^3 + a_2 x^5 \\
&= x\big( a_0 + a_1 x^2 + a_2 x^4 \big) \\
&= x\bigg( a_0 + x^2 \Big(a_1 + a_2 x^2\Big) \bigg) \\
\end{align}$$
Now we place some constraints on this function. Amplitude should be 1 at the peaks, in other words $f(1) = 1$. Substituting $1$ for $x$ gives:
$$ a_0 + a_1 + a_2 = 1 \tag1$$
That's one constraint. The slope at the peaks should be zero, in other words $f'(1) = 0$. The derivative of $f(x)$ is
$$ a_0 + 3 a_1 x^2 + 5 a_2 x^4 $$
and substituting $1$ for $x$ gives our second constraint:
$$ a_0 + 3 a_1 + 5 a_2 = 0 \tag2$$
Now we can use our two constraints to solve for $a_1$ and $a_2$ in terms of $a_0$.
$$
a_1=\frac{5}{2}-2a_0
\\
a_2=a_0-\frac{3}{2}\tag{3}
$$
All that's left is to tweak $a_0$ to get a nice fit. Incidentally, $a_0$ (and the slope at the origin) ends up being $\approx\frac{\pi}{2}$, as we can see from a plot of the function.
Parameter optimization
Below are a number of optimizations of the coefficients, which result in these relative amplitudes of the harmonics compared to the fundamental frequency (1st harmonic):
In the complex Fourier series:
$$\sum_{k=-\infty}^\infty c_k e^{i\tfrac{2\pi}{P} kx},$$
of a real $P\text{-}$periodic waveform with $P = 4$ and time symmetry about $x = 1$ and with half a period defined by odd function $f(x)$ over $-1 \le x \le 1,$ the coefficient of the $k\text{th}$ complex exponential harmonic is:
$$c_k = \frac{1}{P}\int_{-1}^{-1+P}\left(\cases{f(x)&if $x < 1$\\-f(x-2)&if $x \ge 1$}\right)e^{-i\tfrac{2\pi}{P}kx}dx.$$
Because of the relationship $2 \cos(x) = e^{ix} + e^{-ix}$ (see: Euler's formula), the amplitude of a real sinusoidal harmonic with $k > 0$ is $2\left|c_k\right|,$ which is twice that of the magnitude of the complex exponential of the same frequency. This can be massaged to a form which makes it easier for some symbolic mathematics software to simplify the integral:
$$2|c_k| = \frac{2}{4}\left|\int_{-1}^{3}\left(\cases{f(x)&if $x < 1$\\-f(x-2)&if $x \ge 1$}\right)e^{-i\tfrac{2\pi}{4}kx}dx\right|\\
= \frac{1}{2}\left|\int_{-1}^{1}f(x)e^{-i\tfrac{\pi}{2}kx}dx - \int_{1}^{3}f(x-2)e^{-i\tfrac{\pi}{2}kx}dx\right|\\
= \frac{1}{2}\left|\int_{-1}^{1}f(x)e^{-i\tfrac{\pi}{2}kx}dx - \int_{-1}^{1}f(x+2-2)e^{-i\tfrac{\pi}{2}k(x+2)}dx\right|\\
= \frac{1}{2}\left|\int_{-1}^{1}f(x)e^{-i\tfrac{\pi}{2}kx}dx - \int_{-1}^{1}f(x)e^{-i\tfrac{\pi}{2}k(x+2)}dx\right|\\
= \frac{1}{2}\left|\int_{-1}^{1}f(x)\left(e^{-i\tfrac{\pi}{2}kx} - e^{-i\tfrac{\pi}{2}k(x+2)}\right)dx\right|\\
= \frac{1}{2}\left|e^{i\tfrac{\pi}{2}x}\int_{-1}^{1}f(x)\left(e^{-i\tfrac{\pi}{2}kx} - e^{-i\tfrac{\pi}{2}k(x+2)}\right)dx\right|\\
= \frac{1}{2}\left|\int_{-1}^{1}f(x)\left(e^{-i\frac{\pi}{2}k(x-1)}-e^{-i\frac{\pi}{2}k(x+1)}\right)dx\right|$$
The above takes advantage of that $|e^{ix}|=1$ for real $x.$ It is easier for some computer algebra systems to simplify the integral by assuming $k$ is real, and to simplify to integer $k$ at the end. Wolfram Alpha can integrate individual terms of the final integral corresponding to the terms of the polynomial $f(x)$. For the coefficients given in Eq. 3 we get amplitude:
$$= \left|\frac{48\left((-1)^k - 1\right)\left(16\,a_0\left(\pi^2 k^2 - 10\right) - 5\times(5\pi^2 k^2 - 48)\right)}{\pi^6k^6}\right|$$
5th order, continuous derivative
We can solve for the value of $a_0$ that gives equal amplitude $2|c_k|$of the 3rd and the 5th harmonic. There will be two solutions corresponding to the 3rd and the 5th harmonic having equal or opposite phases. The best solution is the one that minimizes the maximum amplitude of the 3rd and above harmonics and equivalently the maximum relative amplitude of the 3rd and above harmonics compared to the fundamental frequency (1st harmonic):
$$a_0 = \frac{3\times(132375\pi^2 - 130832)}{16\times(15885\pi^2 - 16354)}\approx 1.569778813,\\
a_1 = \frac{5}{2} - 2a_0 = \frac{79425\pi^2 - 65416}{8\times(-15885\pi^2 + 16354)}\approx -0.6395576276,\\
a_2 = a_0 - \frac{3}{2} = \frac{15885\pi^2}{16\times(15885\pi^2 - 16354)}\approx 0.06977881382.$$
This gives the fundamental frequency at amplitude $\frac{13679616}{15885\pi^6 - 16354\pi^4} \approx 1.000071420$ and both the 3rd and the 5th harmonic at relative amplitude $\frac{1}{8906}$ or about $-78.99\text{ dB}$ compared to the fundamental frequency. A $k\text{th}$ harmonic has relative amplitude $\frac{\left(1 - (-1)^k\right)\left|8177k^2 - 79425\right|}{142496 k^6}.$
7th order, continuous derivative
Likewise, the optimal 7th order polynomial approximation with the same initial constraints and the 3rd, 5th, and 7th harmonic at the lowest possible equal level is:
$$\begin{align}
f(x) &= a_0 x^1 + a_1 x^3 + a_2 x^5 + a_3 x^7\\
&= x\big( a_0 + a_1 x^2 + a_2 x^4 + a_3 x^7 \big) \\
&= x\bigg( a_0 + x^2 \Big(a_1 + x^2 \big(a_2 + a_3 x^2 \big) \Big) \bigg) \\
\end{align}$$
$$a_0 = \frac{2a_2 + 4a_3 + 3}{2} \approx 1.570781972,\\
a_1 = -\frac{4a_2 + 6a_3 + 1}{2} \approx -0.6458482979,\\
a_2 = \frac{347960025\pi^4 - 405395408\pi^2}{16\times(281681925 \pi^4 - 405395408 \pi^2 + 108019280)} \approx 0.07935067784,\\
a_3 = - \frac{16569525\pi^4}{16\times(281681925\pi^4 - 405395408\pi^2 + 108019280)} \approx -0.004284352588.$$
This is the best of four possible solutions corresponding to equal/opposite phase combinations of the 3rd, 5th, and 7th harmonic. The fundamental frequency has amplitude $\frac{2293523251200}{281681925\pi^8 - 405395408\pi^6 + 108019280\pi^4} \approx 0.9999983752,$ and the 3rd, 5th, and 7th harmonics have relative amplitude $\frac{1}{1555395} \approx -123.8368\text{ dB}$ compared to the fundamental. A $k\text{th}$ harmonic has relative amplitude $\frac{\left(1 - (-1)^k\right)\left|1350241k^4 - 50674426k^2 + 347960025\right|}{597271680k^8}$ compared to the fundamental.
5th order
If the requirement of a continuous derivative is dropped, the 5th order approximation will be more difficult to solve symbolically, because the amplitude of the 9th harmonic will rise above the amplitude of the 3rd, 5th, and the 7th harmonic if those are constrained to be equal and minimized. Testing 16 different solutions corresponding to different subsets of three harmonics from $\{3, 5, 7, 9\}$ being of equal amplitude and of equal or opposite phases, the best solution is:
$$f(x) = a_0 x^1 + a_1 x^3 + a_2 x^5\\
a_0 = 1 - a_1 - a_2 \approx 1.570034357\\
a_1 = \frac{3\times(2436304\pi^2 - 2172825\pi^4)}{8\times(1303695\pi^4 - 1827228\pi^2 + 537160)} \approx -0.6425216143\\
a_2 = \frac{1303695\pi^4}{16\times(1303695\pi^4 - 1827228\pi^2 + 537160)} \approx 0.07248725712$$
The fundamental frequency has amplitude $\frac{1080430592}{1303695\pi^6 - 1827228\pi^4 + 537160\pi^2} \approx 0.9997773320.$ The 3rd, 5th, and 9th harmonics have relative amplitude $\frac{7}{263777} \approx -91.52\text{ dB},$ and the 7th harmonic has relative amplitude $\frac{726083}{31033100273} \approx -92.6\text{ dB}$ compared to the fundamental. A $k\text{th}$ harmonic has relative amplitude $\frac{\left(1 - (-1)^k\right)\left|67145k^4 - 2740842k^2 + 19555425\right|}{33763456k^6}.$
This approximation has a slight corner at the half-cycle boundaries, because the polynomial has zero derivative not at $x = \pm 1$ but at $x \approx \pm 1.002039940.$ At $x = 1$ the value of the derivative is about $0.004905799828$. This results in slower asymptotic decay of the amplitudes of the harmonics at large $k,$ compared to the 5th order approximation that has a continuous derivative.
7th order
A 7th order approximation without continuous derivative can be found similarly. The approach requires testing 120 different solutions and was automated by the Python script at the end of this answer. The best solution is:
$$f(x) = a_0 x^1 + a_1 x^3 + a_2 x^5 + a_3 x^7\\
a_0 = 1 - a_1 - a_2 - a_3 \approx 1.5707953785726114835\\
a_1 = - \frac{5\times(4374085272375\pi^6 - 6856418226992\pi^4 + 2139059216768\pi^2)}{16\times(2124555703725\pi^6 - 3428209113496\pi^4 + 1336912010480\pi^2 - 155807094720)} \approx -0.64590724797262922190\\
a_2 = \frac{2624451163425\pi^6 - 3428209113496\pi^4}{16\times(2124555703725\pi^6 - 3428209113496\pi^4 + 1336912010480\pi^2 - 155807094720)} \approx 0.079473610232926783079\\
a_3 = -\frac{124973864925\pi^6}{16\times(2124555703725\pi^6 - 3428209113496\pi^4 + 1336912010480\pi^2 - 155807094720)} \approx -0.0043617408329090447344$$
The fundamental frequency has amplitude $\frac{16991801282396160}{2124555703725\pi^8 - 3428209113496\pi^6 + 1336912010480\pi^4 - 155807094720\pi^2} \approx 1.0000024810802368487.$ The largest relative amplitude of the harmonics above the fundamental is $\frac{50}{2400688077}\approx -133.627\text{ dB}.$ compared to the fundamental. A $k\text{th}$ harmonic has relative amplitude $\frac{\left(1 - (-1)^k\right)\left|-162299057k^6 + 16711400131k^4 - 428526139187*k^2 + 2624451163425\right|}{4424948250624k^8}.$
Python source
from sympy import symbols, pi, solve, factor, binomial
numEq = 3 # Number of equations
numHarmonics = 6 # Number of harmonics to evaluate
a1, a2, a3, k = symbols("a1, a2, a3, k")
coefficients = [a1, a2, a3]
harmonicRelativeAmplitude = (2*pi**4*a1*k**4*(pi**2*k**2-12)+4*pi**2*a2*k**2*(pi**4*k**4-60*pi**2*k**2+480)+6*a3*(pi**6*k**6-140*pi**4*k**4+6720*pi**2*k**2-53760)+pi**6*k**6)*(1-(-1)**k)/(2*k**8*(2*pi**4*a1*(pi**2-12)+4*pi**2*a2*(pi**4-60*pi**2+480)+6*a3*(pi**6-140*pi**4+6720*pi**2-53760)+pi**6))
harmonicRelativeAmplitudes = []
for i in range(0, numHarmonics) :
harmonicRelativeAmplitudes.append(harmonicRelativeAmplitude.subs(k, 3 + 2*i))
numCandidateEqs = 2**numHarmonics
numSignCombinations = 2**numEq
useHarmonics = range(numEq + 1)
bestSolution = []
bestRelativeAmplitude = 1
bestUnevaluatedRelativeAmplitude = 1
numSolutions = binomial(numHarmonics, numEq + 1)*2**numEq
solutionIndex = 0
for i in range(0, numCandidateEqs) :
temp = i
candidateNumHarmonics = 0
j = 0
while (temp) :
if (temp & 1) :
if candidateNumHarmonics < numEq + 1 :
useHarmonics[candidateNumHarmonics] = j
candidateNumHarmonics += 1
temp >>= 1
j += 1
if (candidateNumHarmonics == numEq + 1) :
for j in range(0, numSignCombinations) :
eqs = []
temp = j
for n in range(0, numEq) :
if temp & 1 :
eqs.append(harmonicRelativeAmplitudes[useHarmonics[0]] - harmonicRelativeAmplitudes[useHarmonics[1+n]])
else :
eqs.append(harmonicRelativeAmplitudes[useHarmonics[0]] + harmonicRelativeAmplitudes[useHarmonics[1+n]])
temp >>= 1
solution = solve(eqs, coefficients, manual=True)
solutionIndex += 1
print "Candidate solution %d of %d" % (solutionIndex, numSolutions)
print solution
solutionRelativeAmplitude = harmonicRelativeAmplitude
for n in range(0, numEq) :
solutionRelativeAmplitude = solutionRelativeAmplitude.subs(coefficients[n], solution[0][n])
solutionRelativeAmplitude = factor(solutionRelativeAmplitude)
print solutionRelativeAmplitude
solutionWorstRelativeAmplitude = 0
for n in range(0, numHarmonics) :
solutionEvaluatedRelativeAmplitude = abs(factor(solutionRelativeAmplitude.subs(k, 3 + 2*n)))
if (solutionEvaluatedRelativeAmplitude > solutionWorstRelativeAmplitude) :
solutionWorstRelativeAmplitude = solutionEvaluatedRelativeAmplitude
print solutionWorstRelativeAmplitude
if (solutionWorstRelativeAmplitude < bestRelativeAmplitude) :
bestRelativeAmplitude = solutionWorstRelativeAmplitude
bestUnevaluatedRelativeAmplitude = solutionRelativeAmplitude
bestSolution = solution
print "That is a new best solution!"
print
print "Best Solution is:"
print bestSolution
print bestUnevaluatedRelativeAmplitude
print bestRelativeAmplitude