That depends which one, as I have read information that there may be multiple exploits by different groups or people.
The one I have access to is a traditional Webkit + Kexploit. It initially was limited to 5.02 due to Webkit exploit, but the recent POC Webkit exploit that works on 5.50 allowed the person who made this one update it to 5.05. This one was not made by qwertyoruiopz (to the best of my knowledge). I've no idea if it's the same bug been exploited or not by qwertyoruiopz. Perhaps oneday I will see.
I've also read some comments that suggest an exploit is doing the rounds privately that uses a non Webkit entry point. One post I've seen suggests it may use the BPF bug as used in 4.55, but with a non Webkit entry point for the initial user land access. But this is just hearsay based on posts - I've not seen this exploit myself, or any more detail. I've no idea what the entry point is if it does indeed exist.
The 5.05 is not that useful however, due to lack of community submissions. In my case it does less than 4.55, as I don't have HEN (Homebrew Enabler for it). I can gain access to debug settings etc. but the stuff flatz documented (package installer/fself) is not implemented in the exploit I have at this point, so again it's of little use on it's own. My main PS4 still uses qwertyoruiopz/SpectreDev's 4.55 exploit with HEN and will remain so until one of the 5.05 exploits goes public and some community projects appear that support it.