Step 1: The power delivered to the conveyor belt is given by the force times the velocity.
\[
P = F \cdot v
\]
Step 2: From the given condition \( \frac{dm}{dt} \propto \sqrt{v} \), the rate of change of mass is proportional to the square root of the velocity. This means the rate of change of momentum is proportional to the square root of the velocity.
Thus, we have:
\[
F = \frac{dp}{dt} = \frac{dm}{dt} \cdot v
\]
Since \( \frac{dm}{dt} \propto \sqrt{v} \), we get:
\[
F \propto v^{3/2}
\]
Step 3: Therefore, the power delivered is:
\[
P \propto F \cdot v \propto v^{3/2} \cdot v = v^{5/2}
\]
Hence, the correct relationship is \( P \propto v^5 \), and the correct answer is option (4).