You can try this code
<div v-if="showLess">
<div v-for="value in array.slice(0, 5)"></div>
</div>
<div v-else>
<div v-for="value in array"></div>
</div>
<button @click="showLess = false"></button>
You will only have 5 elements in the new array.
Update:
Tiny change that makes this solution work with both arrays and objects
<div v-if="showLess">
<div v-for="(value,index) in object">
<template v-if="index <= 5"></template>
</div>
</div>
<div v-else>
<div v-for="value in object"></div>
</div>
<button @click="showLess = false"></button>
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