Modern smart factories, as envisioned by industry 4.0, are highly digitized, connected, and agile systems that monitor, control, and optimize the factory's efficiency and productivity by processing continuous data streams. Connectivity on the factory floor lays the foundation for these smart factories and, consequently, has a significant impact on the productivity of the whole system. Consequently, the factors influencing the dependability of a communication system need to be known and leveraged best to ensure the availability, reliability, maintainability, integrity, and safety of the system. In this paper, we focus on an analysis of Fifth-Generation (5G) campus networks and their dependability as prominent candidates for wireless connectivity in smart factories. We first provide an overview of modern smart factories and discuss the utilization of 5G networks in this context, followed by relevant background information on system dependability. We then discuss key factors influencing dependability in 5G campus networks and their architecture. Finally, we discuss open research challenges to enable 5G networks in various industrial applications.