The phrase can imply dissatisfaction or disappointment with a situation or commitment. After five years in the band, with all the arguments, I just want out.
Pro Tip 2/3
Colloquial Usage
It's often used in casual conversation rather than in formal writing or speeches. Ever since the new policy, a lot of employees want out.
Pro Tip 3/3
Context Sensitive
The reason for wanting out may need to be inferred from the context. He hasn't said it, but you can tell he wants out of the deal.