Not in terms of colors but the 5K panel (I assume from LG) was more uniform in the blacks and suffered from almost no IPS glow. Not a big deal. The Asus is great for the price paid.
Obviously big difference in DPI too, but 4K still looks great at 32''.
For reference, I'm using the PA329CV. I don't know if all ProArt monitors use the same quality of panel.
When I switched to a MBP M2 I got an Asus ProArt 32'' 4K and really like it. Comes precalibrated out of the box.