i just updated to 10.5 and browserhax still loaded HBL for me
it does break the eshop homebrew stuff however (loads only a yellow screen), but most other homebrew appears to be fine
the 10.5 update may be in repsonse to this issue:
Seems like there's a number of reports coming in from various 3DS owners concerning the previous firmware update, 10.4.0-29. Some people are experiencing SD card issues that ends up corrupting data on the card. We're waiting to hear from Nintendo on this matter, as there's no official reasoning/fix for the issue yet.