Can an i5-11400H laptop run games that list an i7 as the requirement?

Yes, the i5-11400H should be capable of running Helldivers 2. Games usually list example processors for their requirements rather than requiring the exact i7 model, and this CPU has 6 cores and 12 threads. Your RTX 3050 will probably be the limiting component, so expect to use lower settings for a smoother frame rate.

There isn’t really such a thing as an “i7 game.” Modern Intel i5 and i7 processors generally use the same compatible architecture, so the important factors are the generation, core and thread count, clock speeds, and overall performance. An 11th-generation i5-11400H is strong enough for most games; the graphics card is more likely to determine how well this one runs.

You can also look for benchmark videos using the same laptop hardware, or at least a similar CPU and RTX 3050. That will give you a better idea of real-world frame rates than the i5/i7 label alone. Make sure the laptop is plugged in and using its performance power mode while gaming.