Unreal Engine 4.23 was released today. A few of the new features are listed as follows:

– Unreal Engine’s new physics and destruction system called Chaos (Beta)
– Virtual texturing, which is a new way to handle very large textures (Beta)
– Unreal Insights, a new unified profiling experience (Beta)
– HoloLens 2 native support (Beta)
– Ray tracing improvements
– Niagara improvements
– Virtual production improvements

The full release notes are listed HERE.

The Chaos destruction system was previewed back in March at GDC in the video below: