Yes you can eat beef that has been frozen for 5 years.
Just make sure the beef tastes good and has no bad smell to it.
But as long as the beef has remained frozen the entire 5 years then it is safe to eat.
I stock up on beef and other meats and sometimes I will have beef and other meats at the bottom of the freezer for 5 and even 6 years that I never get too right away.
I then eventually go through my freezer and come across beef and hamburger, hot dogs etc that I have forgotten about and it's still safe to eat.
My Grandma has some beef and other good meats that were stored in her basement freezer and when died I took the meat as nobody else wanted any.
Some of the meat had been frozen for as long as 10 years and it was still good and safe to eat it.