Disadvantages:
It does NOT mix with DOT3 or DOT 4 or DOT 5.1. Most reported problems with DOT 5 are probably due to some degree of mixing with other fluid types. A residue of the former non-compatible fluid is sufficient to cause serious issues. The best way to convert to DOT 5 is to totally rebuild the hydraulic system. Additionally, the same advice applies if switching from Dot 5 to any of the other fluids.
Since DOT 5 does not absorb water, any moisture in the hydraulic system will "puddle" in one place. This can cause localized corrosion in the hydraulics.
Careful bleeding is required to get all of the air out of the system. It is hard to you without introducing bubbles and thus results in soft pedal feel. These small bubbles will form large bubbles over time. It may be necessary to do a series of bleeds.
DOT 5 is less compressible (often creating a slightly softer pedal). It is not recommended for racing application.
It is hard to pour without introducing bubbles and thus results in soft pedal feel,
It is not recommended by the brake manufacturer, especially for ABS brakes.
It is about twice as expensive as DOT 4 fluid.
So silicone fluid aerates easily. Harley-Davison, one of the sole current OEM users of silicone fluid, warns buyers to let the fluid sit at least an hour before using it. If shaken on the way home, it will aerate enough to look like a freshly poured soft drink. Silicone fluid is also slightly more compressible than glycol fluid, does not change color to tip the user to its moisture content, and worst of all, neither accepts or disperses moisture, making systems using it more corrosion prone, and requiring much more frequent fluid changes. Silicone brake fluid also lacks glycol fluid's naturally occurring lubricity, making it incompatible with the mechanical valving in some anti-lock braking systems.