Rebooting may only provide temporary help — To test whether or not your own Pixel 5 is on the fritz, 9to5Google recommends running Google's Science Journal app, or "a third-party sensor testing app from the Google Play Store."
A temporary solution could also come from doing a full device reboot, although the solution might only be temporary until a new software patch arrives. 9to5Google notes that the issues are almost certainly stemming from programming problems, and not from the actual hardware itself.
Not a deal-breaker — Given that these issues are still affecting a relatively small portion of Pixel 5 consumers, we don't honestly suggest the bug be taken into serious consideration if you're currently looking to upgrade your own smartphone. And heck, at least it's not as bad as Apple's recent AirDrop hacking loophole.