Support for PHP 5 will be dropped in WordPress 6.3, scheduled for release on August 8th 2023. The new minimum supported version of PHP will be 7.0.0. The recommended version of PHP remains at 7.4 or greater.
WordPress currently supports PHP version 5.6.20 or greater. The minimum supported version was last adjusted in WordPress 5.2 in 2019, and since then usage of PHP 5.6 has dropped to 3.9% of monitored WordPress installations