The renewed card will have a starting date when you got the approval. So for me it’s 14-MAY, my old card expired 7th of Feb. this year.
But your 5 year counter starts on the issuance date of your first card. (mine was Dec 2018). So I would be eligible to apply for citizenship Dec 2023. My card will be still valid until 14-May-2024.
So as explained in this thread, you will still have validity when you apply for citizenship, however, as citizenship process requires 1.5-2 years you still need to renew the GV one more time at least.
Regards,
Bisho