The verdict

CPU
Minisforum N5 has 1.2x the CPU throughput (28,854 vs 24,000 PassMark).
Idle power
Minisforum UM690 idles lower (15W vs 28W) - cheaper to run 24/7.
Networking
Minisforum N5 has more NICs (2 vs 1) - better for a firewall or VLAN trunk.
RAM ceiling
Minisforum N5 takes more RAM (96GB vs 64GB).
Local AI
Minisforum N5 has a PCIe slot for a low-profile GPU - the other needs a DIY build for local LLMs.

Which wins for each job

Job Minisforum N5 Minisforum UM690
Plex / Jellyfin ~5 streams ~5 streams
Frigate NVR add a detector add a detector
Proxmox / VMs 28,854 PassMark win 24,000 PassMark
Firewall / router 2 NICs win 1 NICs
Local AI / LLM PCIe GPU slot win no slot

Approximate - capacity estimates from curated specs, the same logic as the recommender. Verify against your exact setup. Prices move; check the retailer.

Full specs

Spec Minisforum N5 Minisforum UM690
Price (list) $510 $499
CPU AMD Ryzen 7 255 AMD Ryzen 9 6900HX
Cores / threads 8 8
PassMark 28,854 24,000
iGPU Radeon Graphics (RDNA2) Radeon 680M
NICs 2 1
NIC model Marvell AQC113 10GbE plus Realtek 5GbE Realtek RTL8125
RAM max (GB) 96 64
M.2 free 3 2
PCIe slot x16 none
Idle (W) 28 15
TDP (W) 65 54