For me, that would be a tough call.
I have a 6.5" 24-3. Its a great shooter and I wouldn't even consider cutting it. But then, its in excellent condition.
OTOH, the 5" is my favorite barrel length in a N-frame and I would really love to have a 24-3 in that length.

If I had one that needed refinishing anyway, I'd be sorely tempted to cut it. But, I'd also insist that it be done right. I'm thinking Hamilton Bowen here. It wouldn't be cheap and heaven only knows what the wait time would be as he's a very busy man.
I dunno man. Glad I'm not the one who has to make the decision.