Hi there OldGuyJB,
Thanks for joining us in Apple Support Communities! We understand you're asking about 5G data speed on your new iPhone. To start, congratulations on your new iPhone! We're glad you're here, and we can provide some guidance.
"The default settings for 5G on iPhone are optimized for battery life and data usage based on your data plan. You can customize these options for when to use 5G and how much data to use in some apps.
Find these options by going to Settings > Cellular > Cellular Data Options. If you're using Dual SIM, go to Settings > Cellular and choose the number whose options you want to change."
Keeping that in mind, you may want to check and adjust your 5G options. Have a look at this support article to learn how:
Use 5G with your iPhone
Also, since cellular network speed varies based on your carrier and location, you'll want to reach out to Verizon if you need more assistance. This link from Verizon will point you in the right direction:
Contact Verizon
We hope this information is helpful. Don’t hesitate to let us know if you have any more questions.
Cheers.