The Samsung Galaxy Note 3 Neo is yet to get Android 5 lollipop officially but you can get it via downloading custom ROMs from XDA developers. The only way at the time of this writing is by using Philz recovery for Note 3 Neo. This was developed as an alternative to CWM and TWRP custom recoveries for the Samsung Galaxy Note 3 Neo which you can download from here.
Here are the installation instructions.
– Download and setup ADB drivers for your Note 3 Neo from here.
– Download the recovery from —> Link
– Download odin 3 Link
– Turn of your device and go to odin mode [ Vol down + power + home button (all at the same time) ] release it when you see Note Neo logo.
– Now that you are in odin mode connect your device via USB cable.
– Now open Odin3 3.09 that you have downloaded.
– If there is a pop-up like Installing ADB drivers let it get finished it is usually updates. Make sure you untick the auto reboot button.
– Click Start.