Short version:
The definition of the subobject classifier can be succinctly stated as "$\Omega$ represents the subobject functor". Since the subobject functor is contravariant, the universal property of $\Omega$ must be given in terms of maps into $\Omega$.
Long version:
For any (well-powered, for size reasons) category $C$, and any object $X$ in $C$, write $\mathrm{Sub}(X)$ for the set of subobjects of $X$ (the monic arrows into $X$, up to isomorphism over $X$). We can turn $\text{Sub}$ into a functor by defining its action on morphisms. Here the most natural choice is to make $\text{Sub}$ contravariant, i.e. into a functor $C^{\text{op}}\to \mathsf{Set}$. Why? Well, given an arrow $f\colon X\to Y$ and a subobject $i\colon S\hookrightarrow Y$, we can pull back $i$ along $f$ to get a subobject $S\times_Y X\hookrightarrow X$. In the category $\mathsf{Set}$, this is exactly the preimage operation.
Now $C$ has a subobject classifier exactly when the functor $\text{Sub}$ is representable. This means there is an object $\Omega$ and a natural isomorphism $\text{Sub}(-)\cong \text{Hom}(-,\Omega)$. The fact that $\text{Sub}$ is a contravariant functor on $C$ means that we have to use the contravariant Hom functor $\text{Hom}(-,\Omega)$ (instead of the covariant Hom functor $\text{Hom}(\Omega,-)$), and thus subobjects of $X$ are classified by arrows $X\to \Omega$.
At this point you might ask if we could turn $\text{Sub}$ into a covariant functor instead. After all, given an arrow $f\colon X\to Y$ in $\mathsf{Set}$, there is a natural way to turn a subobject of $X$ into a subobject of $Y$: take its image along $f$. Well, this idea only works in a category with a natural notion of "images" of subobjects under arbitrary arrows, e.g. a regular category or an adhesive category. But indeed there are categories where we can make $\text{Sub}$ into a covariant functor.
However, even if we can make $\text{Sub}$ into a covariant functor, we should not typically expect it to be representable. This is because representable functors preserve limits, and the subobject functor rarely preserves limits.
For example, writing $\text{Sub}$ for the covariant subobject functor, if there is an object $\Omega$ such that $\text{Sub}(-)\cong \text{Hom}(\Omega,-)$, then for any product $X\times Y$ in $C$, we have $$\text{Sub}(X\times Y)\cong \text{Hom}(\Omega,X\times Y)\cong \text{Hom}(\Omega,X)\times \text{Hom}(\Omega,Y)\cong \text{Sub}(X)\times \text{Sub}(Y).$$ I hope it's clear that this property is not true in $\mathsf{Set}$ or any other familiar categories (the only natural categories I can think of in which this is true are preorders).
It's much more natural to ask the contravariant subobject functor to be representable. Here, preserving limits means turning colimits in $C$ (limits in $C^{\text{op}}$) into limits in $\mathsf{Set}$. So for example we should have $\text{Sub}(X\sqcup Y)\cong \text{Sub}(X)\times \text{Sub}(Y)$. In $\mathsf{Set}$, this says that picking a subobject of a disjoint union of $X$ and $Y$ is the same as picking a subobject of $X$ and a subobject of $Y$.