Certain implementations of 5G are very short range and can provide the carrier with very accurate location awareness. In other words, one of the foundational purposes of 5G is to reduce your security.
Now looking past security for a moment, a very compelling reason to disable some of the older technologies is that each additional radio scheme increases the power consumption, so if you want to save on battery, LTE only mode is ideal.
Personally, I have it set to 3G+/LTE since my network is just a bit too spotty with LTE only.