You could divide your stitches among three needles and knit with the fourth or you can divide your stitches among four needles and knit with the fifth. Both methods are correct, just follow the pattern.
I personally do not like double pointed needles for knitting in the round unless I absolutely have to. I prefer to use the magic loop method (knitting in the round on one long circular needle). I just started my first pair of socks using magic loop. There are no needles to drop and lose, and I don't have to wash my mouth out with soap