The vowel sound varies, but the GH is always silent.
Two ways to see this: You can think of ⟨ough⟩ as a silent ⟨gh⟩, or as an unusual spelling of the vowel it represents — see
LAW vowel (bought, thought),
NO vowel (though, dough),
MOON vowel (through), or
CLOUD vowel (plough, drought). Both framings are valid.