Vehicle-to-Vehicle (V2V) communication is considered the enabler of road safety, traffic efficiency, and compatibility for drivers, passengers, and vulnerable road users. The evolution of 5G V2X enhances the physical layer of LTE V2X in terms of resource allocation, frame structure, and many more. The amendments in the physical layer are to enable the exchange of safety and advanced driving services within a geographical area. The introduction of 25 use cases in the 3GPP Release 15 standard with different quality of service (QoS) requirements and high demand for data rates makes it possible for the enhancements. Delivering the services of the established use cases becomes a challenge in 5G-V2V communication. Release 14 and release 15 mark the evolution of LTE V2X, while Release 16 highlights 3GPP advancements for 5G V2X NR services, and Release 17 focuses on future enhancements with the applications of Machine Learning (ML) and Artificial Intelligence (AI). This study examines sidelink communication, resource allocation for LTE V2V and 5G-V2V, and NR V2X enablers such as Network Slicing (NS) and Machine Learning (ML) with recent capacity studies on V2V employing the two 5G enablers. In 5G-V2V Sidelink communication, Physical Sidelink Shared Channel (PSSCH) is responsible for broadcasting various messages using release 14 and release 16 waveforms. The capacity of PSSCH to broadcast the 5G services, such as Cooperative Awareness Messages (CAM), Decentralized Environmental Messages (DENM), Light Detection and Ranging (LIDAR) contents for environmental perception, and sensor DATA applications for driving intention, becomes a challenge. This study considered this challenge by providing a mathematical model of the capacity of V2V and V2I links in the 5G V2X network for mode selection using the Poisson point process and Poisson line process within a circular region.