Now 5.0.3 is broken too (at least for me) as of Sierra Public Beta 2 (16A254g). The connections are gone in the UI, and dsAccessService crashes continuously:
Process: dsAccessService [4447]
Path: /Applications/Junos Pulse.app/Contents/Plugins/JUNS/dsAccessService
Identifier: dsAccessService
Version: ???
Code Type: X86 (Native)
Parent Process: launchd [1]
Responsible: dsAccessService [4447]
User ID: 0
Date/Time: 2016-07-21 21:51:58.609 -0700
OS Version: Mac OS X 10.12 (16A254g)
Report Version: 12
Anonymous UUID: 8A811570-0296-687C-DEF6-39DB267583D5
Time Awake Since Boot: 6000 seconds
System Integrity Protection: enabled
Crashed Thread: 0 Dispatch queue: com.apple.main-thread
Exception Type: EXC_BAD_ACCESS (SIGSEGV)
Exception Codes: KERN_INVALID_ADDRESS at 0x0000000000000020
Exception Note: EXC_CORPSE_NOTIFY
VM Regions Near 0x20:
-->
__TEXT 0000000000097000-00000000000be000 [ 156K] r-x/rwx SM=COW /Applications/Junos Pulse.app/Contents/Plugins/JUNS/dsAccessService
Thread 0 Crashed:: Dispatch queue: com.apple.main-thread
0 libsystem_c.dylib 0x9f9bde90 strlen + 16
1 libsystem_c.dylib 0x9fa02172 __vfprintf + 6216
2 libsystem_c.dylib 0x9fa274d7 __v2printf + 663
3 libsystem_c.dylib 0x9fa0e046 _vsnprintf + 469
4 libsystem_c.dylib 0x9fa0e0e0 vsnprintf + 71
5 dsTMService.dylib 0x01c2cd64 0x1b13000 + 1154404
6 dsTMService.dylib 0x01b17d90 0x1b13000 + 19856
7 dsTMService.dylib 0x01c28815 0x1b13000 + 1136661
8 dsTMService.dylib 0x01b14a72 0x1b13000 + 6770
9 dsTMService.dylib 0x01b149ff 0x1b13000 + 6655
10 dsTMService.dylib 0x01b15fea DSAccessPluginInitEx + 139
11 dsAccessService 0x000a9ff3 DSAccessPluginLoader::recover() + 471
12 dsAccessService 0x000a3a71 DSAccessService:

nConfigFileChange() + 2451
13 dsAccessService 0x000a4ee4 non-virtual thunk to DSAccessService:

nConfigFileChange() + 20
14 dsAccessService 0x000abbd8 ConfigFileMonitor::start(wchar_t const*) + 210
15 dsAccessService 0x000a154f DSAccessService::Initialize(_DSAccessIpcMode) + 1065
16 dsAccessService 0x00098d89 CmdRunService() + 106
17 dsAccessService 0x00098715 main + 469
18 dsAccessService 0x00098435 start + 53
5.0.3 worked fine until PB 2.