Asus India has confirmed via their Facebook page that their Lollipop update for the Zenfone 5 will be delayed by another 3-4 months.
Of course, this will possibly implies that the update for the Zenfone 4 and 6 will also be delayed as well. Although this would probably outraged many of the Zenfone users, but please consider yourself to be lucky to be able to enjoy the Lollipop – so the wait is worthwhile.