Install iodeOS on newest security patch fp5

I personally like iodéOS more than eOS (because of the possibility to uninstall pre-installed apps for example). I just referenced the eOS guide as the point related to your initial question is explained quite good there.

If CalyxOS would be available I would probably go for it but idk how long it will take. They are working on it.
You can check or follow: ✏ CalyxOS for Fairphone 5

At the end I cannot choose for you. It is always about personal preferences. I run iodéOS without gapps and rooted on my FP5 right now.