Similarly to MySQL , the number of connections alone is not sufficient to estimate the load that they will generate, neither what hardware (or EC2 instance) is required.
For example, a very busy workload with just 10 connections can create more load than an application using 5000 connections idle most of the time.
That said, as a general guidance, keep in mind that ProxySQL is CPU and network intensive: disk usage is not relevant, and memory footprint is generally low (unless it has to handle hundreds of thousands of connections, or query cache is enabled).
For this reason, you should generally use compute optimized EC2 instances.