The term 'highly regarded group' can be summarized by the word 'ELITE, ' which is a five-letter word. ELITE is defined as a select group of people or things that are superior in terms of ability or qualities to the rest of a group. This term is often used to describe a group of people who have achieved a high level of success or recognition in their field. ELITE groups are typically composed of individuals who have demonstrated exceptional skill, knowledge, and experience.