Low Output from MIC5205 LDO Reg
You have a 470uF electrolytic capacitor connected to pin 4. Pin 4 is the bypass (noise reduction) capacitor pin and should be typically 470pF i.e. a million times smaller in value.

Try removing this capacitor and see what happens. I suspect that it's the  hugeness of the 470uF causing instability.

Here's what the MIC5205 looks like internally: -



As you can see the bypass capacitor is in parallel with the lower feedback resistor. Both feedback resistors are used to regulate to the correct voltage and with such a big cap placed here the output is liable to be unstable and what you read on a multimeter might appear to be a constant value DC but is probably the output switching up and down and a few kHz.