diff --git a/.github/workflows/android_builds.yml b/.github/workflows/android_builds.yml
index 495f643e56e..6a9b1238878 100644
--- a/.github/workflows/android_builds.yml
+++ b/.github/workflows/android_builds.yml
@@ -5,7 +5,7 @@ on:
 # Global Settings
 env:
   # Used for the cache key. Add version suffix to force clean build.
-  GODOT_BASE_BRANCH: master
+  GODOT_BASE_BRANCH: 4.2
   SCONSFLAGS: verbose=yes warnings=extra werror=yes debug_symbols=no module_text_server_fb_enabled=yes
 
 concurrency:
diff --git a/.github/workflows/godot_cpp_test.yml b/.github/workflows/godot_cpp_test.yml
index dccc8535504..ed9d008124e 100644
--- a/.github/workflows/godot_cpp_test.yml
+++ b/.github/workflows/godot_cpp_test.yml
@@ -5,7 +5,7 @@ on:
 # Global Settings
 env:
   # Used for the cache key. Add version suffix to force clean build.
-  GODOT_BASE_BRANCH: master
+  GODOT_BASE_BRANCH: 4.2
   # Used for the godot-cpp checkout.
   GODOT_CPP_BRANCH: '4.1'
 
diff --git a/.github/workflows/ios_builds.yml b/.github/workflows/ios_builds.yml
index 6557120d875..3e31fe13aff 100644
--- a/.github/workflows/ios_builds.yml
+++ b/.github/workflows/ios_builds.yml
@@ -5,7 +5,7 @@ on:
 # Global Settings
 env:
   # Used for the cache key. Add version suffix to force clean build.
-  GODOT_BASE_BRANCH: master
+  GODOT_BASE_BRANCH: 4.2
   SCONSFLAGS: verbose=yes warnings=extra werror=yes debug_symbols=no module_text_server_fb_enabled=yes
 
 concurrency:
diff --git a/.github/workflows/linux_builds.yml b/.github/workflows/linux_builds.yml
index afdb74394c7..9d1c5efc190 100644
--- a/.github/workflows/linux_builds.yml
+++ b/.github/workflows/linux_builds.yml
@@ -5,7 +5,7 @@ on:
 # Global Settings
 env:
   # Used for the cache key. Add version suffix to force clean build.
-  GODOT_BASE_BRANCH: master
+  GODOT_BASE_BRANCH: 4.2
   SCONSFLAGS: verbose=yes warnings=extra werror=yes module_text_server_fb_enabled=yes
   DOTNET_NOLOGO: true
   DOTNET_CLI_TELEMETRY_OPTOUT: true
diff --git a/.github/workflows/macos_builds.yml b/.github/workflows/macos_builds.yml
index c2450771754..97c67830747 100644
--- a/.github/workflows/macos_builds.yml
+++ b/.github/workflows/macos_builds.yml
@@ -5,7 +5,7 @@ on:
 # Global Settings
 env:
   # Used for the cache key. Add version suffix to force clean build.
-  GODOT_BASE_BRANCH: master
+  GODOT_BASE_BRANCH: 4.2
   SCONSFLAGS: verbose=yes warnings=extra werror=yes module_text_server_fb_enabled=yes
 
 concurrency:
diff --git a/.github/workflows/web_builds.yml b/.github/workflows/web_builds.yml
index d314991feee..a2a5e87943f 100644
--- a/.github/workflows/web_builds.yml
+++ b/.github/workflows/web_builds.yml
@@ -5,7 +5,7 @@ on:
 # Global Settings
 env:
   # Used for the cache key. Add version suffix to force clean build.
-  GODOT_BASE_BRANCH: master
+  GODOT_BASE_BRANCH: 4.2
   SCONSFLAGS: verbose=yes warnings=extra werror=yes debug_symbols=no
   EM_VERSION: 3.1.39
   EM_CACHE_FOLDER: "emsdk-cache"
diff --git a/.github/workflows/windows_builds.yml b/.github/workflows/windows_builds.yml
index 7e8853634a7..fc03b6647d2 100644
--- a/.github/workflows/windows_builds.yml
+++ b/.github/workflows/windows_builds.yml
@@ -6,7 +6,7 @@ on:
 # SCONS_CACHE for windows must be set in the build environment
 env:
   # Used for the cache key. Add version suffix to force clean build.
-  GODOT_BASE_BRANCH: master
+  GODOT_BASE_BRANCH: 4.2
   SCONSFLAGS: verbose=yes warnings=extra werror=yes module_text_server_fb_enabled=yes
   SCONS_CACHE_MSVC_CONFIG: true
 
diff --git a/misc/dist/macos_tools.app/Contents/Info.plist b/misc/dist/macos_tools.app/Contents/Info.plist
index 6151593f727..0f8ccd3e1cd 100644
--- a/misc/dist/macos_tools.app/Contents/Info.plist
+++ b/misc/dist/macos_tools.app/Contents/Info.plist
@@ -17,11 +17,11 @@
 	<key>CFBundlePackageType</key>
 	<string>APPL</string>
 	<key>CFBundleShortVersionString</key>
-	<string>4.2</string>
+	<string>4.2.1</string>
 	<key>CFBundleSignature</key>
 	<string>godot</string>
 	<key>CFBundleVersion</key>
-	<string>4.2</string>
+	<string>4.2.1</string>
 	<key>NSMicrophoneUsageDescription</key>
 	<string>Microphone access is required to capture audio.</string>
 	<key>NSCameraUsageDescription</key>
diff --git a/misc/dist/windows/godot.iss b/misc/dist/windows/godot.iss
index ba8be69a920..9149b40b438 100644
--- a/misc/dist/windows/godot.iss
+++ b/misc/dist/windows/godot.iss
@@ -1,5 +1,5 @@
 #define MyAppName "Godot Engine"
-#define MyAppVersion "4.2"
+#define MyAppVersion "4.2.1"
 #define MyAppPublisher "Godot Engine contributors"
 #define MyAppURL "https://godotengine.org/"
 #define MyAppExeName "godot.exe"
diff --git a/modules/mono/editor/Godot.NET.Sdk/Godot.NET.Sdk/Godot.NET.Sdk.csproj b/modules/mono/editor/Godot.NET.Sdk/Godot.NET.Sdk/Godot.NET.Sdk.csproj
index ad3a10ba493..84772a964d9 100644
--- a/modules/mono/editor/Godot.NET.Sdk/Godot.NET.Sdk/Godot.NET.Sdk.csproj
+++ b/modules/mono/editor/Godot.NET.Sdk/Godot.NET.Sdk/Godot.NET.Sdk.csproj
@@ -7,7 +7,7 @@
     <Authors>Godot Engine contributors</Authors>
 
     <PackageId>Godot.NET.Sdk</PackageId>
-    <Version>4.2.0</Version>
+    <Version>4.2.1</Version>
     <PackageVersion>$(PackageVersion_Godot_NET_Sdk)</PackageVersion>
     <RepositoryUrl>https://github.com/godotengine/godot/tree/master/modules/mono/editor/Godot.NET.Sdk</RepositoryUrl>
     <PackageProjectUrl>$(RepositoryUrl)</PackageProjectUrl>
diff --git a/modules/mono/editor/Godot.NET.Sdk/Godot.SourceGenerators/Godot.SourceGenerators.csproj b/modules/mono/editor/Godot.NET.Sdk/Godot.SourceGenerators/Godot.SourceGenerators.csproj
index 23879e0e531..2a852c70ac9 100644
--- a/modules/mono/editor/Godot.NET.Sdk/Godot.SourceGenerators/Godot.SourceGenerators.csproj
+++ b/modules/mono/editor/Godot.NET.Sdk/Godot.SourceGenerators/Godot.SourceGenerators.csproj
@@ -9,7 +9,7 @@
     <Authors>Godot Engine contributors</Authors>
 
     <PackageId>Godot.SourceGenerators</PackageId>
-    <Version>4.2.0</Version>
+    <Version>4.2.1</Version>
     <PackageVersion>$(PackageVersion_Godot_SourceGenerators)</PackageVersion>
     <RepositoryUrl>https://github.com/godotengine/godot/tree/master/modules/mono/editor/Godot.NET.Sdk/Godot.SourceGenerators</RepositoryUrl>
     <PackageProjectUrl>$(RepositoryUrl)</PackageProjectUrl>
diff --git a/modules/mono/glue/GodotSharp/GodotSharp/GodotSharp.csproj b/modules/mono/glue/GodotSharp/GodotSharp/GodotSharp.csproj
index a55b8d693b6..d6deb65246f 100644
--- a/modules/mono/glue/GodotSharp/GodotSharp/GodotSharp.csproj
+++ b/modules/mono/glue/GodotSharp/GodotSharp/GodotSharp.csproj
@@ -17,7 +17,7 @@
     <Authors>Godot Engine contributors</Authors>
 
     <PackageId>GodotSharp</PackageId>
-    <Version>4.2.0</Version>
+    <Version>4.2.1</Version>
     <PackageVersion>$(PackageVersion_GodotSharp)</PackageVersion>
     <RepositoryUrl>https://github.com/godotengine/godot/tree/master/modules/mono/glue/GodotSharp/GodotSharp</RepositoryUrl>
     <PackageProjectUrl>$(RepositoryUrl)</PackageProjectUrl>
diff --git a/modules/mono/glue/GodotSharp/GodotSharpEditor/GodotSharpEditor.csproj b/modules/mono/glue/GodotSharp/GodotSharpEditor/GodotSharpEditor.csproj
index db9337d4eb3..3ceb3b64dc7 100644
--- a/modules/mono/glue/GodotSharp/GodotSharpEditor/GodotSharpEditor.csproj
+++ b/modules/mono/glue/GodotSharp/GodotSharpEditor/GodotSharpEditor.csproj
@@ -15,7 +15,7 @@
     <Authors>Godot Engine contributors</Authors>
 
     <PackageId>GodotSharpEditor</PackageId>
-    <Version>4.2.0</Version>
+    <Version>4.2.1</Version>
     <PackageVersion>$(PackageVersion_GodotSharp)</PackageVersion>
     <RepositoryUrl>https://github.com/godotengine/godot/tree/master/modules/mono/glue/GodotSharp/GodotSharpEditor</RepositoryUrl>
     <PackageProjectUrl>$(RepositoryUrl)</PackageProjectUrl>
diff --git a/version.py b/version.py
index 248340e91fc..54f477b0612 100644
--- a/version.py
+++ b/version.py
@@ -2,8 +2,8 @@ short_name = "godot"
 name = "Godot Engine"
 major = 4
 minor = 2
-patch = 0
-status = "stable"
+patch = 1
+status = "rc"
 module_config = ""
 year = 2023
 website = "https://godotengine.org"