Slight change that will make it a bit better:

Option Explicit

Sub MoveToColumnE()
    Dim Rng As Range
    Dim x As Object
    Dim n As Long
    Dim Answer As Long
    
    Set Rng = Application.Selection
    
    For Each x In Rng
        If Cells(x.Row, 5) <> "" And x.Value <> "" Then
            Answer = MsgBox("Cell E" & x.Row & " is not empty. Do you wish to overwrite it?", vbYesNo, "Move to column E")
        Else
            Answer = vbYes
        End If
        
        If Answer = vbYes Then
            If x.Value <> "" Then
                n = Len(x.Value)
                Cells(x.Row, 5) = Right(x.Value, 2)
                If n > 2 Then
                    x = Left(x.Value, n - 2)
                Else
                    x = ""
                End If
            End If
        ElseIf Answer = vbNo Then
            Exit Sub
        End If
    Next x

End Sub