CB750 related that might be similar on CB500:
I have that oil in my CB750 K6 (1000cc 90+ hp) without slipping, mixed with Red Line 20W-50. I had slip before that was caused by the adjustment as Dave mention, but on the CB750.
The adjustment on a CB750 is easy to do wrong. The screw should be tightened until stop and opened 1/4-1/2 turn.
I have noticed that it will first stop at a soft stop possible to tighten harder.
When the screw is really bottomed, it must be opened 1/2 turn.
If stopped at the first resistance, OK to open 1/4 turn.
The clutch package and play change when engine is really warm. If you adjust when warm, the clutch lever at handle bar will be very tight when cold, no play. Thats is how both my CB750's are. I adjust at every ride. Have to stop doing that....
My CB750K2 have Spectro HD 20W-50 mineral oil. It got real dragging clutch, not enough to rock bike with clutch lever pressed, forward-backward to release. I start ENGINE and it will creep forward Until engine is warm.
Much better now after it has got 2L replaced with the Q8 SBK 10W-50 racing and Red Line 20W-50. I'll contiune to mix Spectro with SBK racing that is very cheap (at swedish Swedol) for a Synth oil or for a good oil in general.