Some people just aren't "made" for higher mileage and don't respond well to it.
There will ALWAYS be a tradeoff between intensity and volume-if you want to raise your mileage, you'll have to a) slow down when running the additional mileage and b) make workouts less stressful (or cut them entirely) and minimize other sources of stress such as the following:
poor sleep habits
poor diet
poor running form
late nights
getting sick
etc etc.
Even if you do everything perfectly, there is no guarantee that higher mileage is the way to go. Some people here will say that high mileage is something that everyone can do and everyone can benefit from, but that just isn't true. In the long term, it may have some benefits, but in the short term it will probably make you slower compared to low/moderate mileage.
Some people are more fast twitch/powerfully built, and their form is better the faster they go. Almost all 800m athletes are like this-tall, powerful FT with a fair amount of endurance-many respond great to 40-60 miles a week, MAYBE 70, but anything more and they start to break down, form changes, hips go back, gym sessions tank, etc. About half of 1500m athletes are like this. Webb, Symmonds, Gray, Coe...they generally thrive off of gym work, intervals, hillsprints/strides, a bit of threshold/AT work and moderate mileage.
Others are the opposite, and can handle mileage much better. Generally skinnier, lighter, more ST. Not much speed but can run for days. They might still have good 1500m PRs, but they are a different animal. Rupp, ritz, kenyans, farah, etc. They thrive off of higher mileage, a bit of speed and a lot of long hard runs.
At 40, try and get to the 50s range, but get to 50s+workouts before going to 60s and 70s, etc. It takes a long time to adapt to higher mileage.
If you are going for 5k, the mileage can definitely help, as 40 is quite low. What are your 400/800/1500 and 5k PRs? If you have very good speed, it is likely that you won't thrive off of high mileage (the lydiardites will yell at me for that, but it's often true!)