A couple ring enclosed circular geometric resonator (CRECGR) based dual-band polarization insensitive metamaterial (MM) with high effective medium ratio (EMR), and excellent absorptance is proposed in this study, which can be utilized as a sensor and absorber in the 5G sub-6 GHz frequency range. A circular geometry-based unique patch has been introduced in the proposed unit cell to achieve high polarization insensitive properties with excellent absorption for the 5G sub-6 GHz spectrum. The distinctive feature of this proposed CRECGR unit cell is its simple and unique structure with a high EMR of 11.13, polarization insensitive up to 180°, and epsilon negative (ENG) properties, including a negative refractive index and near-zero permeability for 5G sub-6 GHz applications. Furthermore, this designed unit cell yields excellent absorption properties with high quality factor. The designed MM unit cell is fabricated on low loss Rogers RT5880 printed media with an electrical dimension of 0.089λ × 0.089λ × 0.017λ. The performance of the designed CRECGR metamaterial is determined using Computer Simulation Technology (CST), Advanced Design Software (ADS), and measurements. The CRECGR unit cell offers dual resonances at 3.37 GHz and 5.8 GHz, covering the 5G sub-6 GHz band with ENG, near-zero permeability and negative index. The polarization insensitive properties of the unit cell were also investigated for maximum angle of incidence, which confirmed the identical response. The simulated outcome is verified by experiment with excellent accordance. Moreover, the unit cell performance with a complete backplane is explored, noting a maximum absorption of 99.9% for all normal and oblique incidence waves, suitable for sensing and antenna systems. In addition, the suggested unit cell sensing performance is evaluated using the permittivity-based sensing model. The proposed MM outperforms recent related studies in terms of polarization insensitivity up to 180°, high insensitive absorptivity, high EMR, and sensing applications. These features prove that the proposed CRECGR metamaterial is perfect for 5G Applications.