I remember reading about the Fenix 5 series being notorious for ANT+ reception problems where even Stryd had to boost their radio to deal with the problem
For awhile now I've had annoying dropout on my HRM-TRI using my Fenix 5 and having owned other HRM straps for years I knew to try contact gel and also make sure fresh battery etc.
Then I realized two things:
First, I can download the HR data afterwards because it's stored, and when I do that, the dropout disappears because it's recorded locally and then sent as a set instead of second-by-second over ANT+ (this is a feature meant for swimming but Garmin made it so you can download after any activity too)
Secondly when I use the strap with my ancient Vivoactive (v1) it works perfectly and records everything without dropout over ANT+
So it has to be the Fenix5? It's actually a Fenix 5s but I don't think that matters other than battery size and screen size.
Would be interesting if anyone can confirm this behavior.
If so, replacing the HRM-TRI won't fix the problem because it's the watch itself.
Which is crazy because the watch on my wrist is literally less than a foot away from the HRM transmitter at all times.
This also is starting to make sense to me why I get messages on the Fenix during my run that the HRM-TRI has connected (again and again).
(remember, there is no disconnect on other watches)