We moved my older one out at age 5 around the same size as yours. I think the main issue is whether they are able to keep the seatbelt in the right place or not, so it might be more about maturity than size. If you get a high-back booster, it should help hold it in place mostly, but I can see why you would be concerned if she regularly falls asleep.
It did some research in the past about safety, and for the older kids, the safety seemed to be about equal between the 5-point and the seatbelt, as long as it was used properly. My younger is now 5, and we need to decide soon on the same issue. So far, he seems happy in the 5-point harness, but we will move him by the time he is 6 most likely.