Currently the entire iPhone lineup including the iPhone SE supports 5G wireless connectivity. 5G provides lower latency and faster transfer speeds over 4G or LTE networks. There are several different bands / frequencies which may appear via icons in the iOS status bar when in use:
Verizon offers the iPhone 13 with 5G wireless on their network. If you've purchased your iPhone directly from Verizon, you're probably not having 5G issues. Many Apple customers purchase their devices unlocked from Apple, or at other retailers. Some users have noticed that 5G connectivity is not working on Verizon with their new phones.
5G refers to the fifth generation of cellular network technology that will eventually replace 4G, which is what most smartphones use today. Data transfer rates are many times faster on 5G, with the potential to be many, many times faster, so much so that it could possibly replace your home cable internet at some point. While 4G LTE supports peak download speeds of around 300 megabits per second (Mbps), average download speeds vary by carrier and are generally under 100 Mbps.
iPhone owners with the latest iOS 12.2 beta have started noticing that in certain areas, the AT&T "LTE" logo has been replaced with "5G E". While this was previously launched by AT&T on non-Apple devices, it wasn't clear whether Apple devices would follow suit. The move has not been without its detractors, who claim that AT&T's 5G Evolution amounts to nothing but a marketing gimmick.
AT&T has begun rolling out a new label in the status bar of LTE devices on its cellular network. The moves to add "5G E" branding to its LTE Advanced (LTE-A) network upgrades have not gone unnoticed. The carrier already launched its 5G Evolution in 400 markets across the country, and more devices are slated to receive the 5G E logo in the coming months.