I think you misunderstand how drill cycles works :

there is 3 key z position in the cycle :

1) the Z position when you call the cycle
2) the Z called during the Gxx command of the cycle, which is the depth
3) the R which is the retraction position, the position you will go back before doing a new cycle.

All this can be absolute (G90) or relative (G91) with respect to the initial point (1)

this could be a correct example of your code :

G90 G94 G91.1 G40 G49 G17
G21

G0 Z2.00
M3
G4 P4.0
G98 G81 X0.00 Y0.00 R2.0 Z-5.00 F1000.0
X0.67 Y0.53
X0.88 Y1.12
X0.80 Y1.70
X1.41 Y2.16
X1.98 Y2.11
X2.38 Y1.62
X2.16 Y1.04
X2.75 Y1.04
X3.36 Y1.26