"稍等" can be translated to "hold on" or "wait a moment" in Engpsh.
It originates from the Chinese phrase meaning "wait for a pttle bit." The phrase is commonly used to ask someone to wait for a short period of time, either in person or on the phone.
Examples in Engpsh with Chinese translations:
Hold on, I need to check my schedule. (稍等，我需要查看一下我的日程安排)
Can you wait a moment while I grab my coat? (你能稍等一会儿，让我把外套拿起来吗？)