armv5 are pretty old devices (~ 2012 and earlier) with low-end specs. So it depends on your game if you have performance-sensitive features in it like particle effects – in that case, I would only build for armv7.
TLDR: To have the widest coverage, build for armv5. To make sure your app is running on decent (mid-end to high-end) devices build for armv7.
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