You do not normally make any connection to pin 5 when using AC. On DC, connect pins 4 and 6 together and that will be the positive side and pin 5 will be the negative side.
On AC there will be two MOSFETs in series so the Rds(on) will be doubled. On DC there will be two in parallel so the Rds(on) will be halved.
There are two MOSFETs so that the current will be blocked in either direction when the MOSFETs are turned off if used with AC. One body diode would conduct in on direction, so two are needed in series in opposite directions to block the AC
When the MOSFETs are turned on, they conduct in both directions. Normally there will be a large enough gate voltage and a small enough current that the voltage drop will be so small that the body diodes don't conduct.
In the AD6C112, the Rds(on) is quite large (20Ω) and so at the maximum current of 120 mA, the body diodes will conduct. At lower currents, the voltage drop will be due to the Rds(on) only. There will be no additional voltage drop from the body diodes.
The MOSFETs themselves do not rectify, and they work just as well forwards as reverse. In the reverse direction, if they do not conduct enough and the voltage rises to 0.6 V or so, the body diode will start to take current.
MOSFETs are often used in reverse as a way of making a rectifier with a lower voltage drop than a diode would have. The LM5050 is an IC that is designed to make precision rectifiers using N-MOSFETs in reverse.
https://www.ti.com/lit/ds/symlink/lm5050-1-q1.pdf