Hello jasons6930 and welcome to the forum

If you have both indoors working flat out, then the 5kW outdoor will split it's capacity between them and you will get less than your required 3.5kW to each fancoil. However, with only 1 indoor running there will not be an issue.
The indoor units are normally selected to handle maximum cooling load which, unless it is something like a server room, doesn't happen very often here in the UK.
To answer your question more confidently you would need to let us know what the application is and how you came up with a 3.5kW load.