Another thought is vB 4 is not mobile friendly. With some serious interface tweaking it could probably be made mobile friendly...but this is probably on a site by site basis...probably not something that could be done via an app or plug-in.
Also Google crawling (Googlebot) starting July 1st, 2019...by default will crawl new websites with it's "mobile-first indexing"...older sites will continue to be crawled with Google's "desktop-first indexing".
How this exactly effects website SEO will have to be determined...but I'm willing to bet that eventually websites that are not "mobile-friendly" will lose SEO ranking to sites that are more mobile friendly.
Thus if vBulletin 4 is not mobile-friendly and vBulletin 5 is (it is)...then vBulletin 5 will have an SEO advantage vs. vBulletin 4.
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