I executed the awk in the directory, containing all the files.
I created dir with "out"
cat *.fasta | tr "\n" ";" | tr ">" "\n>" | awk -F ";" '{print ">"$4"\n"$5 > "../out/$5.fasta"}'
awk: cmd. line:1: (FILENAME=- FNR=1) fatal: cannot redirect to `../out/$5.fasta': No such file or directory