CHIRP

CHIRP considers FM to be 5kHz deviation, NFM to be 2.5kHz and WFM to be 200kHz (i.e. broadcast radio). I think this radio probably does not support WFM on the regular channels (doesn't according to the menu) and that's why it has separate memories for its broadcast receiver.

So when you set chirp to FM, that is what the radio calls "Wide", only because it's wider than "Narrow". These are the wide and narrow used in land-mobile communications, which almost all amateur radios in this area call "FM" and "NFM" or "narrow". The "WFM" mode designation in CHIRP comes from Icom and Kenwood radios, which use WFM to mean broadcast FM.

I'll let Jacek confirm the above details of the radio itself and close this as appropriate.

It's exactly like Dan wrote.

Most FM transceivers will have FM with about 5kHz deviation, which is for the wider channel spacing (25kHz in Europe, 20kHz in the US), and NFM for the narrow channel spacing with about half of the deviation, which is usually half of the wide spacing (12.5kHz in Europe, 10kHz in the US).

It's like this for most radios. For another example check the Baofeng UV-5R, or most other radios.

WFM can mean a lot of things (broadcast quality FM with about 100kHz deviation, some "a bit wider FM" with 10-20kHz deviation etc). The Quansheng UV-K5 doesn't support it (and neither do most other radios like the UV-5R for example), and the driver is not going to pretend it does.