Oh (오) is the ordinal fifth place. In English, it could be spelled as just the long vowel "O" but this would be rather confusing to English speaking readers, so the "h" is added to encourage the correct phonetic pronunciation of "Oh."
Daseot (다섯) is the number 5 in Korean and is pronounced "dah-suht."
(Note: when counting exercises, students might often hear a Korean speaking instructor (or English speaking imitator) saying "doss, yoss" for five and six, but this is an abbreviated slang used as a single syllable to keep the rhythm of the exercise. It is not the proper spelling nor pronunciation of these numbers.
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