Coventry's fixtures against Rotherham United, Wigan Athletic and Huddersfield Town at the Coventry Building Society Arena were postponed after the pitch was deemed unsafe.
The stadium had been used for rugby sevens matches during this year's Commonwealth Games. Coventry were allowed to resume playing on the pitch after rugby side Wasps - then landlords of the ground - carried out repair work.
Wasps have since gone into administration and the ground is now owned by Frasers Group.
Coventry accepted the sanction from the English Football League (EFL) board with the five points deduction suspended for the rest of the 2022-23 season and the 2023-24 campaign.
The club will also pay the EFL £6,000 towards the costs of the investigation and compensation due to Huddersfield, Wigan and Rotherham.
