It's worked on all Galaxy S models for years now (including the S5), not quite sure if this is a hardware or software issue.
While I don't use it all that often, (maybe once every couple weeks or so) it DOES come in handy and I love the option. Most of my phone calls are done via Bluetooth, (I really don't like holding the phone up to my ear for extended periods), as BT is much more comfortable. This also makes it much easier to take a photo, reply to a text and look something up online all while on a phone call. They say you don't really miss something you've never had, but once you do have the ability, you'll find yourself using it much more often.
S5 tap'n