The recent discovery of high entropy transition metal diborides (HEBs) has sparked renewed interest in ultrahigh temperature ceramics (UHTCs). Presently, transition metal (Me) oxides based boro-carbo/thermal reduction (BCTR) syntheses show great promise as relatively cheap production methods, but also may present limits to attain single phase pure HEBs. Herein, by selectively tuning the concentration of boron and carbon, the reducing agents of Me oxide mixture (Me = Ti, Ta, Nb, Zr and Hf), and exploiting high-resolution synchrotron X-ray powder diffraction, we first identified and quantified the formation of intermediate phases during the BCTR synthesis, with the ultimate intent to achieve a full dense (Ti,Ta,Nb,Zr,Hf)B2 solid solution (SS). Additional insight was obtained by temperature dependent diffraction, which highlighted, for the first time in this class of materials, anisotropic thermal expansion, most likely at the origin of the SS micro-cracking, as was also observed by electron microscopy.