You can do that with a single search and replace. If it needs to be a macro, recording that and doing a quick tidy gives you this macro.
Code:
Sub Macro2()
Options.DefaultHighlightColorIndex = wdBrightGreen
With Selection.Find
.ClearFormatting
.Replacement.ClearFormatting
.Replacement.Highlight = True
.Text = "PQC70([1-5])"
.Replacement.Text = ""
.Forward = True
.Wrap = wdFindContinue
.Format = True
.MatchCase = False
.MatchWholeWord = True
.MatchAllWordForms = False
.MatchSoundsLike = False
.MatchWildcards = True
.Execute Replace:=wdReplaceAll
End With
End Sub
Refer to the attached graphic to see what the search and replace dialog would look like. Note: I decided to remove the replacewith text and also check the Whole Word setting after capturing the screen shot but the result is essentially the same.