Annual replacement isn't really the right target - it's all about wear and maintenance. A motorcycle chain's lifespan depends way more on how you treat it than the calendar. Chains typically last anywhere from 15,000 to 30,000 miles with decent upkeep, though some riders push their chains much further. The CB500F is a reliable bike, so your chain should hold up fine if you're checking it regularly.
What actually kills chains is neglect. You need to inspect yours every month or so for slack and wear. Grab the chain midway between sprockets and try to move it up and down - if there's more than about an inch of play, it needs adjustment or replacement. Look for rust, stiff links, or visible wear on the teeth of your sprockets too. Keep it lubricated with chain lube meant for motorcycles, and wipe off excess so it doesn't attract grit. Most of the time chains wear out because riders ignore them, not because of miles.
At 3-4 rides a week, you're probably putting decent mileage on yearly, so check the condition every month rather than thinking in terms of calendar time. If it's clean, well-lubricated, and the slack is normal, a chain can easily last years. When it does start slipping, making noise, or showing obvious rust or tight spots, that's your signal to replace it. Your CB500F's chain isn't expensive to replace, and doing it before failure beats dealing with it snapping on the road.