The 2×2 and even 4×4 downlink MIMO are implemented more generally in 5G user equipments (UEs), the complexity of which poses great challenges to performance evaluation and test verification for 5G UEs. Given that the existing static channel models defined by 3GPP could not rank different UEs in terms of performance effectively, CTIA proposes the dynamic channel model with link adaptation accordingly for standardization. In this work, the first MIMO OTA testing system with dynamic channel model is integrated, based on which four 5G commercial UEs are tested. The measurement results and related analysis proves the good feasible and the ability to distinguish different UEs of the proposed dynamic channel model with link adaptation.