Apple is warning iPhone 5 owners that they have until 3 November 2019 to update their iPhone 5 to 10.3.4 or they might wind up with a phone that is partially inoperable. The issue is with GPS:
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Starting just before 12:00 a.m. UTC on November 3, 2019,* iPhone 5 will require an iOS update to maintain accurate GPS location and to continue to use functions that rely on correct date and time including App Store, iCloud, email, and web browsing. This is due to the GPS time rollover issue that began affecting GPS-enabled products from other manufacturers on April 6, 2019. Affected Apple devices are not impacted until just before 12:00 a.m. UTC on November 3, 2019.
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Update your device's software
It's always a good idea to keep the operating system on your iPhone updated. If you have an iPhone 5, it's especially important to update your device's software wirelessly or using your computer before November 3 to maintain accurate GPS location and to continue to use functions that rely on correct date and time including App Store, iCloud, email, and web browsing.
If the update to iPhone 5 is not completed by November 3, 2019, you will be required to back up and restore using a Mac or PC in order to update because over-the-air software updates and iCloud Backup will not work.
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I have kept my iPhone 5 as a backup in case my current iPhone goes down, even though it doesn't have a SIM card. I used a wired connection to my MacBook Pro and iTunes thereon to do the upgrade from 9.x.y. It went smoothly. This is the last update that will ever be released for the iPhone 5, according to Apple.