If you're a Moodle admin, this page will tell you about the major changes affecting you in Moodle 4.2. If you'd like to see full details of the release with technical information, here are the Moodle 4.2 release notes.
Indentation
New admin setting
Disable or enable indentation for Topics and Weekly Course formats
Reset indentation
Reset previous indentation for Topics or Weekly Course formats
Report builder
New report sources
Create reports on comments and user badges.
New filters
New filters include last,current and next hour.
New in integrations
BigBlueButton
New settings control visiblity of profile photos and access to recording formats.
MoodleNet initial integration
Teachers can share activities to a MoodleNet instance if allowed by admin.
TinyMCE settings
Admin settings control availability of TinyMCE features.
TinyMCE editor
Popular, modern and accessible, TinyMCE is now default in new Moodle sites.