The only mention at all of the five wizards in
The Lord of the Rings is when Saruman screams out:
Yes, when you also have the Keys of Barad-dûr itself, I suppose; and the crowns of the seven kings, and the rods of the Five Wizards, and have purchased yourself a pair of boots many times larger than those you wear now.
All material in
The Silmarillion, Unfinished Tales, and other later books edited by Christopher Tolkien was not published by Tolkien in his life time.
Personally, I don’t
believe any of it. It is all just a story. I was simply pointing out what Tolkien himself wrote in a proposed index to
The Lord of the Rings written to be included in the third volume (then not yet published) “until it became clear that size and cost were ruinous.” I believe that Tolkien meant what he wrote when he wrote it. Nothing more.
But let everyone believe in this matter as they think best, or not.