3 point lanyards are appropriate for everyday environments where the lanyard is at risk of getting caught or pulled off. Examples include: office, factory, care home environments, home environment (for wearing with emergency call buttons) holidays, sports and other activities.
5 Point lanyards are often policy for working in highly volatile / acute unpredictable environments. Examples include: secure mental health units, prison services, police or professional security roles
Not sure which one you should wear to work? Check your companies risk management policy for advice.
For example I currently lone work in the community and our policy states that I am required to wear a 5-point breakaway lanyard.