The old version 5.0 is now replaced by the new version number 2407, reflecting the current month of July in the year 2024.
This change isn't about introducing any fixes, updates, or features to the emulator itself;
I think this misrepresents the situation. There are 21k commits between these releases!
https://github.com/dolphin-emu/dolphin/tree/5.0
https://github.com/dolphin-emu/dolphin/tree/2407
This is their take:
Eight years have passed since that great release, and we have seen the dividends of that effort time and time again. Dolphin has seen constant updates, with new features and enhancements coming side by side with bug fixes and stability improvements. Users are now able to upgrade without fear, knowing that even in the unlikely event of a bug it will be fixed within hours. And of the thousands of titles that Dolphin can run, the number that do not function can now be counted on one hand!
All of this was achieved without a new release. In fact, Dolphin has been in the 5.0 era longer than any other, and with almost twenty-two thousand commits over the past eight years, the 5.0 era now makes up over half of Dolphin's entire commit history! But users haven't forgotten our past releases. They have been waiting for years, patiently anticipating when our next release may arrive.
That wait ends today.
https://dolphin-emu.org/blog/2024/07/02/dolphin-releases-announcement/