Greetings!

You can "technically" apply in 5th phase, what that means is that authorities are not going to stop you from doing so, but I don't feel it will yield any results whatsoever.

It can be explained by following example, assume that phase 4 ends on 1lakh, and phase 5 starts from 1 lakh and one, now assuming your daughter had 80K rank, she must have been given preference over remaining 20K students who were in the same phase but had rank greater than that of her.

But now that the counseling of that phase has been concluded all 20K of those would have been allotted some seat, now VIT obviously isn't going to reconsider admission of those 20K because of anyone, so now when you apply for phase 5, as her rank was 80K she will be given preference over the rank 100001. However at the same time you need to note that she didn't got what she wanted even when those 20K students were not considered, now that they also have taken their seats, it is highly unlikely that applying for phase 5 will yield any better results except in the case that she filled wrong preferences. In that case it might be of a bit help

~Sach Thadani