After rating 5/5 for Liberty Air 2 Pro and having loved those earbuds for years (over Sony, JBL, & others), I took a leap and bought the Liberty 4 without reading much about it. I am pleased to say, there are plenty of reasons to switch and upgrade, although I can't comment on the future plans from Anker/Soundcore on any "pro" version of these earbuds.
Sound: Winner, L4
Beefier bass and sounds a lot more full with L4 vs. LA2P. I'd say LA2P relied more on Treble clarity, where L4 combines that with a much more full sound from bass & mid-tones. I downloaded some hi-res audio from Bandcamp and there's a marked upgrade to sound quality using LDAC on the L4. I'm noticing subtle vocal changes and additions to the music I've been listening to on repeat for months (Magdalena Bay), and it's due to the upgraded sound quality from the L4.
Design: Winner, L4
From the pictures, you can see the L4 earbuds are much smaller vs. LA2P and they are also much lighter. They seem to snap into my ears much more easily, and I have zero concern about them coming loose. I'm excited to try them in my shed with some ear protection on to see if there's better comfort with the smaller size. Lastly, the cases look identical, but the updated L4 is smaller, yet about the same weight.
Functionality: Tie
Both products come with Qi/Wireless charging out of the box and I've no problems with either model. The difference is LA2P has touch controls vs. L4's squeeze (both fingers). I'm going to have to get used to the new controls, but I was able to set up the L4 to mimic how I used LA2P. I've had issues with a double-tap on LA2P resulting in a single tap register, so hopefully the squeeze update on L4 will alleviate that issue.
ANC: Pending Winner
With the better fit and what feels like slight update to their HearID software, it certainly feels like an upgrade in the ANC department for the L4. I'm usually able to at least hear a muffled voice from my fiancée from the LA2P with ANC on, but with L4 it was like being in another house. Will need to test on an upcoming flight before settling on a true winner, but leaning toward L4.
Overall/TL;DR: If you love the Liberty Air 2 Pros and are ready for an upgrade, buy the Liberty 4. They are superior in sound quality, design, and are on-par with ANC and functionality. An excellent earbud to compete with any name-brand competitor for a reasonable price (time of review; $150).