When will Qt 5.4.1 be release ?
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When it's done ;)
I doubt you will find much better answer than that. You can browse the "bug tracker":https://bugreports.qt.io/browse/QTBUG/fixforversion/14400/?selectedTab=com.atlassian.jira.jira-projects-plugin:version-issues-panel to see how much is still left to do for this release or read related "development mailing lists":http://lists.qt-project.org/pipermail/development/2015-January/thread.html to see what's happening when. They usually talk about various milestones before releasing.
From a quick glance at the topics there 5.4.1 is going to be "already during January".
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"This message":http://lists.qt-project.org/pipermail/development/2014-December/019539.html indeed claims work going on and a release being imminent. The 5.4.1 branch is also open already.