@JosephTLyons If you used the installed for Qt 4.2 then it probably exists in a single directory. So just like anything else on OSX you can just delete that directory and should be all uninstalled. If there is a dir outside the /Applications directory you may need to clean that up too. Sorry not 100% sure here since all my OSX Qt installs were built from source so I don't know how the installer works on OSX. On Linux it's a single directory.
Anyway, once /Applications/Qt* is deleted you should be ready to do the install from Qt 5.11. Qt4 and 5 rarely play nice together in my opinion so a nice clean install would be a good idea. You can make them work on the same system but in my experience on these forums people mix their dylibs all the time and get weird behavior, crashes, failures to load, etc. So if you want them both for some reason just make sure they stay separate.