I can see that Phalcon 4 is available for PHP 7.4 on the EA4-experimental repo but it doesn't look like it has ever been pushed to stable. It's been on the experimental repo for more than one and a half years.
We have a few clients that would like to use Phalcon 4 and also Phalcon 5.
We have a few clients that would like to use Phalcon 4 and also Phalcon 5.