The exponential growth in wireless communication demands scalable, efficient and high-performance coding techniques for 5G Multiple Input Multiple Output (MIMO) systems. A potential approach to overcoming difficulties of attaining greater diversity gain, decreased Bit Error Rate (BER), and low detection complexity is Optimized Linearly Scalable Dispersion Codes (OLSDC). This survey comprehensively reviews the optimization in OLSDC design, focusing on its application in 5G MIMO systems. This paper focuses on the PSO (Particle Swarm Optimization) and GA (Genetic Algorithm) techniques for optimization and also explores various other algorithms for this purpose. This paper presents the study of other algorithms with their key features. It highlights key methodologies, performance metrics and strategies. The results indicate that the proposed PSO-based MIMO system demonstrates improved convergence speed, leading to enhanced channel capacity. Furthermore, the survey identifies research gaps and provides directions for the development of next-generation scalable codes for future wireless communication standards.