How to split a string in shell and get the last field

You can use string operators:

$ foo=1:2:3:4:5
$ echo ${foo##*:}
5

This trims everything from the front until a ‘:’, greedily.

${foo  <-- from variable foo
  ##   <-- greedy front trim
  *    <-- matches anything
  :    <-- until the last ':'
 }