Either use a variable of type of interval day to second or use numtodsinterval to convert:
declare
  curr_time1   timestamp with time zone := systimestamp;
  curr_time2   number := dbms_utility.get_time;
  sec          pls_integer := 5;
  sec_int      interval day to second;
begin
  sec_int := '0 00:00:05';
  loop
    exit when current_timestamp >= curr_time1 + sec_int;
-- OR   exit when current_timestamp >= curr_time1 + numtodsinterval(sec, 'second');
  end loop;
  dbms_output.put_line( 'Elapsed Time = '
   || ( dbms_utility.get_time - curr_time2 ) / 100 );
end;
/