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-k tells it what column and what characters of each column to sort on. There's more detail about what denotes a column below since it's actually a bit complicated.
What does most of the work here, I think, is -n, "numeric sort".
Since DISK is a constant four, you want to key your sort on the first field character 5 and following, numeric ordering. In the the ol day, this was '-n +0.4 -0.99' but now it is -k1.5,1.99n, as field and character offsets in +- ar zero based and in -k, one based.
If you rename your volumes with leading zeros then there is no problem with simple sort.
Yes, you save a lot of trouble if just rename with leading zeroes. Of course, might start with DISK001 and oops now we need a DISK1000, so need to put in enough capacity.
Although the .99 will work for most fields, the standards say that -k1.5,1.99n specifies a sort key performing a numeric sort on the 5th through the 99th characters of the 1st field. The standard way to specify performing a numeric sort starting with the 5th character of the 1st field through the end of the 1st field would be -k1.5,1n or -k1.5,1.0n . And, for the record, the sort key -k1.5n specifies a numeric sort key starting with the 5th character of the 1st field and continuing through the end of the line.
Yes, 99 was a hack for as many digits as sort can find. Since sort probably does an atof(), it stops when it hits non-numeric after white space and then numeric.
Remember that in not -n, sort deals with letters -- you could go hex or just 0-9A-Z on a digit. As long as $LC_ALL is C, sort is in ascii/iso8859-1 one byte char land where 0-9 are less than A-Z. I even came up with a special code where I fused the values of visual synonyms like 0 and O, S and 5, 1 and I, 2 and Z, 8 and B together for a 5 bit number, but now I am 1 short, so choose a font with a small top on the 8 (10 + 26 = 36, - 4 = 32). I was working on tape identity numbers, where the OS had 5 places but the customer had way over 100K volumes. 5 5 bit numbers is 32 billion. If you go lower case an symbols, you might make 6 bits, again eliminating the visually similar.