Greetings Sravan,
What you are looking for here is a Strategy-based Plan with Hierarchy
You need to create a Maintenance Strategy in IP11 (I propose you create it with the unit of "Months" so you can add monthly, quarterly, half-yearly etc. inspections - if necessary).
Then you can create a single Task List for that Strategy. You will select the Maintenance Package for the Operations.
In the Operations for the Visual Inspection, select the 1Y package only.
In the Operations for the Detailed Inspection, select the 5Y package only.
Because you set up the Strategy with a Hierarchy, the higher Package will override the lower one.
Create a new Maintenance Plan in IP42 & check the scheduling of the plan in IP10...
Alternatively, you can have the two Task Lists as you have now and add them to two Maintenance Items on a single Maintenance Plan. The Hierarchy will apply throughout the entire Plan, across multiple Items & Operations. This allows you to have different Item descriptions, among other things.
Also, consider if you require an Equipment Task List or a General Task list (the latter can be re-used across multiple bridges)