The differential cross sections of $\Lambda_\mathrm{c}^+$ baryon production are measured via the exclusive decay channel $\Lambda_\mathrm{c}^+ \to $pK$^-\pi^+$, as a function of transverse momentum ($p_\mathrm{T}$) in proton-proton (pp) and lead-lead (PbPb) collisions at a nucleon-nucleon center-of-mass energy of 5.02 TeV with the CMS detector at the LHC. The measurement is performed within the $\Lambda_\mathrm{c}^+$ rapidity interval $|y|<$1.0 in the $p_\mathrm{T}$ range of 5-20 GeV/$c$ in pp and 10-20 GeV/$c$ in PbPb collisions. The observed yields of $\Lambda_\mathrm{c}^+$ for $p_\mathrm{T}$ of 10-20 GeV/$c$ suggest a possible suppression in central PbPb collisions compared to pp collisions. The $\Lambda_\mathrm{c}^+/$D$^0$ production ratio in pp collisions is compared to theoretical models. In PbPb collisions, this ratio is consistent with the result from pp collisions in their common $p_\mathrm{T}$ range.