TL;DR: The planets would not maintain a closed orbit.
Bertrand's Theorem states that the only possible central force potentials that will give rise to bound & closed orbits are $F(r) \propto r^{+1}$ (simple harmonic oscillator) and $F(r) \propto r^{-2}$ (gravity, Coulomb force). The proof is slightly involved and I will not reproduce it here. Orbits under an inverse cube law could oscillate between a $(r_{min}, r_{max})$ or go off to infinity or spiral into the sun -- but they will not follow a stable path.
However, the most interesting question I believe that could come out of this is the following:
What would happen if you added an inverse cube law, in addition to a gravitational potential?
In fact, Newton showed two very cool results about this hybrid potential.
- Given any particle motion defined by $(r(t), \theta(t))$ under gravity alone, one can find a particle motion under our hybrid potential that matches the distance $r(t)$, but has a different angular velocity $\tilde{\theta}(t)$.
- For any attractive potential $F(r)$, the above statement holds!
John Carlos Baez has a fantastic blog post on this subject that covers the answer to this question much more elegantly than I have, and also provides a more rigorous statement and proof.
I hope this answers your question!