First thing I would say is if you're on a motorcycle, I5 is the last road you want to be on. Plenty of two lane alternatives that are devoid of traffic and lots of fun.
But if you just have to get from LA to the Bay area in a short time, it shouldn't be a big deal. Just take 152 from 5 to 101 or vice versa if you're going south. The sinkhole is much farther north so you shouldn't be impacted.
If you need to go through there to get to Sacramento or further north, 99 would be an alternative although I suspect many other people will be using it as well.