I've had both twice, yup you heard me lol. They are both my favorite phones of 2017 hands down. Pound for pound The note 8 is clearly the superior device. But that's not just with the 5T, it's with any smartphone on the market point blank period. But there's more to it than pound for pound. I love the note 8 cause of the features it offers. Plenty of features that aren't necessarily in your way but when needed you can use them. I love that. Also the vibration motor of the note is much better than the 5T's, the camera is better and the water resistance is a big plus. As far as the 5T, I love dash charging. That is my favorite feature of any phone ever. I just freaking love it. Also I love that the 5T is half the price yet can compete out there with the best of them. I like the face unlock, I LOVE how speedy the phone is, it's really a speed demon although the note isn't too shabby either. I like that the 5T size is more manageable, lighter and easier to hold and I also love the fact that it has a screen protector and a pretty damn good case out of the box.
As far as the display goes, they cancel each other out....to me. I don't care for QHD, I always use my note on 1080P and to me the 5T is just as good. Maybe the note is better at 1080P but it's so minimal that it doesn't matter to me. I don't give 2 f*cks about wireless charging so it's not a pro for me. I love both skins. The features of the note 8 and the light skin of the 5T while still having some cool features, gestures and dark mode etc... They're both solid phones. The note 8 is superior overall but it's also more expensive. The 5T is a phone that truly challenges these $700+ smartphones. It really makes you question yourself about going out and spending that much money when you can get something almost as good if not just as good for half the price.
Side note, I had the pixel 2 XL too, I prefer the 5T hands down, no debate. the pixel has a great camera but besides that I prefer the 5T. The display is better, more Rams, better battery life, performance is on par but I'll actually give the edge to 5T cause of more ram and the ability to keep more apps in cache and last but not least, the price. again, you spend $800 on the pixel then spend $500 on the 5T, you'll hate yourself for spending that much on the pixel cause it's totally not worth it Imo. just my 2cents.