You can't really use 12 VDC 3-pin standard computer case fans at 5 VDC. 5 VDC is actually about the MINIMUM voltage that a computer mobo will send out to a fan, because below that it may stall and not re-start. So it may not even start up with only 5 VDC. As a fan wears, it starts to slow down due to increased bearing friction, so any fan that even starts and runs on 5 VDC will fail early for this reason, long before it would fail in a "normal" situation.
Control of the speed of a 3-pin computer fan is done entirely by varying the voltage on Pin #2 from 12 down to 5. These fans are all "brushless", meaning that they do not have any commutator and brush system that switches the current to a series of windings. In fact, they have their magnets in the rotor, and the windings are all stationary as field coils. Instead they use an electronic "simulated commutator" system.There is a small sensor that generates electrical pulses (two per evolution) to sense the exact position of the rotor, and that is fed into the motor's circuit board to synchronize the switching of electrical current to the field coils with the position of the rotor, no matter what its speed. That same circuit sends out a version of that on Pin #3 as a series of 5 VDC pulses, two per revolution, that the mobo can count to generate a speed reading. The mobo does not actually use that for speed control, though. It DOES use that to detect fan failure - no signal, or a signal too slow, generates a failure warning.