Ok, since assembly is one of the tags, I will just assume your code is pseudo code (and not necessarily c) and translate it by human into 6502 assembly.
1st Option (without else)
ldy #$00
lda #$05
dey
bmi false
lda #$06
false brk
2nd Option (with else)
ldy #$00
dey
bmi else
lda #$06
sec
bcs end
else lda #$05
end brk
Assumptions: Condition is in Y register set this to 0 or 1 on the first line of either option, result will be in accumulator.
So, after counting cycles for both possibilities of each case, we see that the 1st construct is generally faster; 9 cycles when condition is 0 and 10 cycles when condition is 1, whereas option two is also 9 cycles when condition is 0, but 13 cycles when condition is 1. (cycle counts do not include the BRK at the end).
Conclusion: If only is faster than If-Else construct.
And for completeness, here is an optimized value = condition + 5 solution:
ldy #$00
lda #$00
tya
adc #$05
brk
This cuts our time down to 8 cycles (again not including the BRK at the end).