Hodeg produced a good lead out and just about had enough speed to hold off Bennett by half a bike in a quick sprint finish.
Edward Theuns (Trek–Segafredo) came in third, while his fellow Belgian rider Timothy Dupont (Wanty–Groupe Gobert) finished in fourth position.
De Plus takes BinckBank GC as Naesen wins final stage
Hodeg sprints to victory in Stage 5 as Bennett falls short
Bennett extends his lead in the red jersey while Tim Wellens (Lotto-Soudal) sits top of the general classification by a margin of four seconds ahead of Marc Hirschi, with Laurens De Plus 10 seconds further back.
On the flat roads from Riemst in Belgium, to Venray in the Netherlands, the riders completed the 191.4km route.
Deceuninck–Quick-Step responded in style from a disappointing Stage 4 as Hodeg used the GC riders to hang on for the win, having not had the help in the opening three stages.
Hodge repaid his team-mates as he had the power when he had the support as he fought hard to snatch it on the line from Bennett.
The Irishman had put himself in a very good position with 1800m to go - but was trapped in at the barriers on the final stretch as he was beaten in a sprint for the first time in this race.
Saturday's stage is an individual time trial in The Hague before the final stage from Sint-Pieters-Leeuw to Geraardsbergen in East Flanders on Sunday.