By the end of Episode 4, The Nexus Event, in the post-credits scene, the fate of Loki after being pruned was shown as he wakes up and encounters other versions of him which were also variants who faced the same experience when they were taken by the Time Variance Authority. It showed what seems to be a wasteland and in Loki Episode 5, it was confirmed that the place has a name – The Void.
What is The Void in Loki Episode 5?
It has been explained throughout LokiEpisode 5 that those who have been pruned weren't dead, not just yet. They were merely transported into a place called "The Void" and it is a really scary place considering that a gargantuan creature called Alioth eliminates those who just arrived there. It looks like a wasteland and Loki got a glimpse of what happens when Alioth devours anything it comes across with.
In the first few minutes of the episode, Renslayer tells Sylvie that there is a possibility that such a place exists and that Loki might not be dead just yet. She explains that when the TVA prunes a branched timeline, it is not possible to destroy all of the matter that comes with it so what happens is that they just move it somewhere in the timeline where it wouldn't grow. No reset, just a transfer to "avoid at the end of time."
Ravonna Renslayer also revealed to Sylvie that there is a place by the end of time where it simply stops and that no one ever comes out of there alive. As Sylvie questions that if The Void is in the end of time which is yet to be written could not create a nexus event because such a time is yet to be written, Renslayer confirms that going through it would be a suicide mission.
In another scene, it was shown that the USS Eldridge arrives at The Void and it was devoured by Alioth. Anything that Alioth takes in comes out wasted and rusted throughout erasing all the signs of life that there was.
However, by the end of Episode 5, Sylvie and Loki join forces to enchant Alioth and opened some sort of portal which leads to someone possibly hiding behind the gargantuan creature and they see what seems to be a lair in hopes of whoever is in there could answer what is going on and who is really behind the TVA.
All episodes of Loki Season 1 is available to stream on Disney+.