It is nearly impossible to dunk at 5 foot 3. Professionals in the NBA that are under 6'0" can barely do it. Spud Web is one of the shortest, if not the shortest, player to ever dunk, and he was 5'6". While not impossible, it is nearly impossible, and your vertical leap will need to be tremendous to do so.
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If we're generous and say your reach is 5'5" or 65 inches, and a Basketball rim is 120" high, then you need to have a running vertical jump of over 55".
This kind of running vertical jump is usually attained by elite athletes, and there aren't that many people in the world who can attain that, though you can still work on improving your vertical if you are young and will grow taller.