Below 1800 MHz, 5G has almost no performance advantage over today's 4G LTE. For a major power grid running at 450 MHz, PGE Systemy chose Nokia 4G, resulting in a major saving. 5G is overkill for almost all IoT applications. 5G's NB-IoT is almost exactly the same as 4G NB-IoT.
The key exception is when connecting an enormous number of devices. 5G can address a million devices from a single tower. So far, I haven't found any application that needs more than 4G can handle. It's not clear whether intense concentrations of cars, all on one network, will need that. Perhaps when 5G controls munitions, the U.S. will need that capacity on the battlefield. The U.S. military is massively funding 5G research, especially on how to manage spectrum in a presumably crowded environment.
Nokia virtually "bet its future" on corporate 4G & 5G networks.