"Knight" outside the social significance of the title is interchangeable with "man-at-arms", ie. a fully armed and trained cavalryman also capable of fighting on foot. A lot of these guys were of the "armed household retainer" status rather than estate-owners per ce. Heavy cavalry in particular only works worth a crap when properly trained in at least small-unit level group tactics, and obviously the warriors attached to the same lord (or whatever) mostly trained with each other. That forms a natural basis for a tactical sub-unit when feudal contingents are amalgamated into larger battlefield formations; but it doesn't really make much sense to use them "as is", as such individual contingents might well vary in size from a couple to dozens of men; in other words, they would need to be organized into smaller, more manageable "squads". The specific size and constituent of these would of course vary by time and place, tactical preference and any number of other onsiderations, but AFAIK about five horses has been a very common size the world over (as well as decimal multipliers, which have been particularly popular for infantry) presumably because it offers a reasonably optimal balance between numbers, flexibility and manageability - large enough to be an effective combat unit, but not too large to become clumsy and unmanageable in the typically rather confused and fluid circumstances where it becomes particularly important.
Bookmarks