That's the opposite direction of what I was searching for with my cheap, simple experiment at the moment, but looks like a good circuit to keep in mind for other uses in the future. I'll be sure to save it for later.If you want an even lower dropout voltage than the above circuits provide you can get it, albeit at some extra complexity and cost. The following 5V, 50mA limiter has a dropout voltage of only 50 mV and is also stable with temperature since it doesn't rely on a BJT's Vbe to set the current.
View attachment 201138
Voltage divider R1/R2 determines the setpoint for the voltage across current sense resistor R5. Op amp U1 provides the control function, and MUST be a RRIO op amp. C1 and R4 discourage instability and oscillations.
U1 and Q1 are a lot costlier than a pair of jellybean BJTs; but if you absolutely must have the lowest possible dropout voltage the above circuit is one way to get it.
There only thing I see as a potential weakness, depending on how picky you want to be, is that the current limit is proportionally dependent on supply voltage, since the reference comes from a voltage divider.
If you wanted a current limit that was more immune to supply voltage variation or inaccuracy, presumably you could set something up with a Zener, TL431, etc. to provide a more stable reference.




