The "documentation" for
gpio-shutdown is rather obscure.
I have used
gpio-shutdown to implement a shutdown button (although I use GPIO5 - pin 29 as I use the default for I²C).
The "documentation" does not explain what happens in another pin is used - it does state "This overlay only handles shutdown".
Pin 5 USED to perform a restart on older Pi - See Will pulling pin 5 low will make the pi boot up again
but this does not seem to work.
Update Pin 5 WILL restart;
gpio-poweroff had disabled it.
Info: Drives a GPIO high or low on poweroff (including halt). Enabling this
overlay will prevent the ability to boot by driving GPIO3 low.
Indeed there seems to be little point in modern 40 pin Pi - which have a dedicated
Run input which can be used to restart the Pi.
PS If you are using the default
,active_low=1,gpio_pull=up seems unnecessary as there is an external pullup, and active_low is the default.