The internal loop (with variable j) runs from 1 up to 9 for each iteration of the outer index loop, and always assigns value to element[i] hence each value of the element array will be 9.
Following your logic this is how it should be:
for (int i = 0, j = 1; i < 5; i++, j += 2) element[i] = j;
You want to increment the value to be set along with the index variable.
A few improvements:
Since element is an array not just an element, you should name it plural, like elements. Also don't repeat the array length in multiple places in your code, an array knows its length: elements.length, use that in the for statement:
int[] elements = new int[5]; for (int i = 0, j = 1; i < elements.length; i++, j += 2) elements[i] = j;
Also you don't really need 2 variables to do what you want, the ith odd number can be calculated based on the index:
for (int i = 0; i < elements.length; i++) elements[i] = i*2 + 1;