I think you may want to open the COM port, then use the EscapeCommFunction function to send a modem signal, whichever one corresponds to pin 5 ( I think its Data terminal ready pin?). So like this:
DWORD Escape = SETDTR;
HANDLE PortHandle = CreateFile("COM1", GENERIC_READ | GENERIC_WRITE, 0, NULL, OPEN_EXISTING, 0, NULL);
EscapeCommFunction(PortHandle, &Escape);
// Wait a second
Escape = CLDTR;
EscapeCommFunction(PortHandle, &Escape);
CloseHandle(PortHandle);