Do you mean next year he would skip 5th and go into 6th? Or he would accelerate right now into 6th?
Does he get along well with the age kids he would be with? Do they like and accept him?
I do think that the child's social needs are very important to consider. DD was grade accelerated from K to 1 (so she just turned 9 and is in 4th grade). She has a lot of friends and gets along very well but another kid in her grade who was accelerated (he is still 8) is having a lot of problems socially and says no one likes him. So it depends a lot on the kid. I can't imagine grade accelerating my younger child (currently in second grade) because he is just too socially immature and awkward.
Ask your DS and see what his viewpoint is. He might be very much for it, or very much against it. That doesn't mean you base your decision just on what he says, but it will give you an idea of whether it would potentially work out well or not.