A further consideration is the matter that if the Altimeters in question are less than 20 years old, and they are subject to interference from 5G transmissions in the relevant spectrum. Either the Altimeter manufacturer, or the 5G manufacturer really screwed up in their production process.
That's RF selectivity I'd expect from a mostly analog and manually tuned system. I find it hard to believe that applies to either 5G cell phones for obvious reasons, or the altimeters being used on a commercial airliner, as such systems would be manpower intensive.
So all that being said, the telecom companies are probably correct. You probably have a better chance of winning the powerball jackpot multiple times by way of buying 1 ticker per draw, than the entire world has a risk of someone having a Commercial airliner crash because of 5G interference with their ILS altimeter.