A number is divisible by 4 if its last two digits form a number divisible by 4.
From digits $\{1,2,3,4,5,6\}$, possible 2-digit endings divisible by 4 are:
\[
12, 16, 24, 32, 36, 52, 56, 64
\]
Total = $8$ endings.
For each ending, the remaining $3$ places are filled with any of the remaining $4$ digits in $4 \times 3 \times 2 = 24$ ways.
Thus:
\[
n = 8 \times 24 = 192
\]
Wait — check: We are forming 5-digit numbers, so after fixing last two digits, first digit cannot be zero (not relevant since 0 not in digits set), so no restriction.
But we have $6$ digits, pick $2$ for the ending (from the 8 valid pairs), remaining $4$ digits to choose $3$ for first three positions: number of arrangements $P(4,3) = 24$.
However, one case: in $8$ valid endings, do all use distinct digits? Yes, since digits are all different in set $\{1,2,3,4,5,6\}$ and no repetition allowed — each valid pair automatically uses distinct digits.
So:
\[
n = 8 \times 24 = 192
\]
The correct option is (3) in list, so original answer key says 192.
\[
\boxed{192}
\]