My approach is:
$$\frac{(5 \times 4) \times \left[\binom{3}{2} \times \binom{197}{38}\right] \times \left[\binom{1}{1} \times \binom{159}{39}\right]}{\binom{200}{40} \times \binom{160}{40}} \tag1 $$
$$\times \frac{\binom{120}{40} \times \binom{80}{40} \times \binom{40}{40}}{\binom{120}{40} \times \binom{80}{40} \times \binom{40}{40}}. \tag2 $$
Combining the denominators of (1) and (2) above gives the number of equally likely ways that the $(200)$ balls can be distributed into the $5$ bins. For convenience, I am assuming that each of the $(200)$ balls is distinguishable, and that each of the $(5)$ bins is distinguishable.
So the combined numerators of (1) and (2) must be computed in a manner consistent with how the denominator was computed.
In the combined numerator, the $(5 \times 4)$ factor expresses the number of distinct ways that one bin can be selected to receive two red balls, and then a second bin can be selected to receive one red ball.
Then, using hypergeometric distribution, the rest of the numerator and denominator in (1) above is explained. With (2) above cancelling out, (1) above may be simplified as follows:
$\displaystyle \frac{\binom{3}{2} \times \binom{197}{38}}{\binom{200}{40}} = \frac{3!}{2!} \times \frac{(197!)}{(159!)\times (38!)} \times \frac{(160!) \times (40!)}{(200!)}$
$\displaystyle = \frac{3!}{2!} \times \frac{197!}{200!} \times \frac{160!}{159!} \times \frac{40!}{38!}$
$\displaystyle = \frac{3 \times 160 \times 40 \times 39}{200 \times 199 \times 198} = \frac{16 \times 13}{199 \times 11}.$
$\displaystyle \frac{\binom{159}{39}}{\binom{160}{40}} = \frac{159!}{(39!) \times (120!)} \times \frac{(40!) \times (120!)}{160!} = \frac{40}{160}= \frac{1}{4}.$
So, the final computation is
$$(5 \times 4) \times \frac{16 \times 13}{199 \times 11} \times \frac{1}{4} = \frac{80 \times 13}{199 \times 11} = \frac{1040}{2189}.$$