The challenge there is if the market doesn't go as planned will they be able to hold for as much time it will take for the market to recover before approaching bull run, when the first idea towards investing isn't for the long run there will be problem if the process.
The actual target of most bitcoin has when they decide to HODL some bitcoin is usually the 4 year bull run cycle. The whole timing kind of make sense because if you observe past price movements and charts you will discover that it's more like a reoccurrence after each halving event.
The reason I wouldn't fully support 5 years is because at that time just after the bull run, some earlier periods of the 5th year could end up being a retracement.
When i say 5+ years, we can take the season we are in as an example. Halving occurred early Q2 of 2024, those who bought at that time, expecting to make profits in 4 years interval won't be getting their profits from the ATH exactly in that period, we are in the fifth year after that halving and yet to see ATH of the fourth halving.
What matters also is depending on when you purchase, some investors buy at the peak, some at a low. The market is playing games now, we don't know if we still follow the normal cycle which could be the reason for extending holding period for better profits.