On the one hand, 5 µM is relatively high, as enzyme concentrations go. On the other hand, if your enzyme has a low value of kcat, then it will need more enzyme than otherwise, and 1 per minute is a relatively slow turnover number. If someone has validated an assay under the same solution conditions up to a certain concentration of enzyme as you are using, then it should be fine. If no one has, I would be very hesitant to make such an assumption. Putting it another way, the assumption is probably best tested on a case-by-case basis, and for any change that I would make (even to a new pH), I would want to redo the linearity study. The reasons why enzyme assays are not always linear with enzyme concentration are many, and so far the most thorough discussion I have found is in an old book (Enzymes) by Malcolm Dixon and Edwin Webb. But one of the more common would be substrate depletion, which will happen more quickly at higher concentrations of enzyme.