Registered to a product called StatusD and essentially never seen in the wild.
IANA lists 5414 on TCP and UDP as statusd, an old registration with no published protocol description and no public documentation of the software behind it. Nothing in common use listens here by default. If it is open on a host, the answer will come from identifying the process, not from the registry entry.
Expose with care
Unknown service, unknown authentication — identify the listener before allowing it past the host firewall.
$ sudo lsof -nP -iTCP:5414 -sTCP:LISTENSeen this on your network? Beige Box scans your Wi-Fi and shows every open port on every device — and its Ports tool links straight back here.
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Corrections or a missing port? Reply @rimrocksystems.