PHP 7.4, set for release on November 28, 2019, introduces several new features beneficial for WordPress developers, such as typed properties, arrow functions, and a null coalescing assignment operator. However, many plugin and theme developers may not be able to leverage these features immediately due to environment constraints and compatibility issues, as WordPress has not yet linked its minimum PHP version to the latest releases. Additionally, PHP 7.4 will deprecate various outdated features, prompting developers to update their codebases accordingly.