If you really want to do it using substr and index then here is one iterative method:
use strict;
use warnings;
my $line='PSAPPSRV.26476584 (6) 01/02/19 06:30:30 GetCertificate(3) Re
+turning context. ID=PTWEBSERVER, Lang=ENG';
my $SpaceChar = ' ';
my $result = $line;
for (1..4) {
$result = substr ($result, index ($result, $SpaceChar) + 1);
print "$result\n";
}
Here's a simpler one with split instead:
#!/usr/bin/env perl
use strict;
use warnings;
my $line='PSAPPSRV.26476584 (6) 01/02/19 06:30:30 GetCertificate(3) Re
+turning context. ID=PTWEBSERVER, Lang=ENG';
my $SpaceChar = ' ';
my $result = (split ($SpaceChar, $line, 5))[4];
print "$result\n";
Update: edit of first snippet to remove expensive no-op.