The only time you may need a fancier one, such as the dual valve unit from UPR, is if you're boosted. All you're doing on an LS engine is scrubbing ("filtering") a single, one-way circuit. There are crappy catch cans that basically rely on gravity to let the oil droplets fall out of suspension. The more filtration media you have (within reason- you don't wanna choke down the flow too much), the better. I have a $100 catchcans.com one on my Tahoe that works great and even better once I added more coalescing (filtering) media (stainless scrubber pad). I saw recently where a member took it a step further and modified his to hold one or two extra scrubber pads. His modifications didn't look like they'd hamper the airflow anything significant and I'll be copying his idea one day. I bought the $18 one for my brother's truck and added the stainless pad. I don't see how it would be any less effective than my $100 one or any other one of a higher price but same design. The ONLY drawback I saw to it was that it only had a 3 ounce capacity. I consistently drain 3 ounces out of mine every 5K miles. My brother drained maybe 1/2 a teaspoon out of his at a 3K mile change. His intake is dry on the inside so his motor ('05 5.3- Gen3) just isn't passing much oil at all through the PCV system. I'd expect your Gen5 to be an improvement over my Gen4 and not pass much oil. But, there's no laws against draining the catch can between oil changes (At every fill-up? Bi-weekly? Monthly?) until you get an idea of how long you can go between drainings. You can drain it and pour the oil right back into the motor.
This is the one I got off Amazon:
https://www.amazon.com/gp/product/B07JQKHW9W/ref=ppx_yo_dt_b_asin_title_o07_s00?ie=UTF8&psc=1
And this is where/how I added the scrubber pad:
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