You can target yourself as the player to gain 5 life.

If either target becomes illegal before Inspired Ultimatum resolves, the other will be affected as appropriate and you’ll draw five cards. If both targets become illegal, the spell won’t resolve and you won’t draw five cards.

You can target yourself as the player to gain 5 life.

If either target becomes illegal before Inspired Ultimatum resolves, the other will be affected as appropriate and you'll draw five cards. If both targets become illegal, the spell won't resolve and you won't draw five cards.