INSERT INTO create_cutline_linestrings (name, cutline_linestring)
SELECT
"Shortest Line between 'Big Polygon' and point 2 of 'Small Polygon",
ST_ShortestLine
(
(SELECT cutline_polygon FROM create_cutline_polygons WHERE (name="Big Polygon")),
-- point 2 of the "Small Polygon" corresponds to your point 5 of Polygon 2
(SELECT ST_PointN(ST_ExteriorRing(cutline_polygon),2) FROM create_cutline_polygons WHERE (name="Small Polygon"))
) AS shorestline
;
INSERT INTO create_cutline_points (name, cutline_point)
SELECT
"First point of Shortest Line on 'Big Polygon' from 'Small Polygon",
(SELECT ST_PointN(cutline_linestring,1) FROM create_cutline_linestrings WHERE (name="Shortest Line between 'Big Polygon' and point 2 of 'Small Polygon")) AS first_point
;