Just to add… ^This^ is true, but it isn’t the whole story… For those who need to go 5 to 4, can think of at least 3 options right-now, but there’s probably more if you search:
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There’s a downgrade plugin on the marketplace to help. Anyone got opinions on it?
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Try editing uasset version numbers in a hex editor, and see if you can load the asset, in an older version of the engine. If so, then re-save it as native. This can work, but there’s obvious caveats. Keep backup copies until the project concludes.
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If your project uses a lot of marketplace assets, and these are still available in older versions of the engine (email creators to find out), then you can just download all those older asset versions again to help reduce the amount of re-work.