For those wondering about how many more iterations we have to go to reach CH 5, here is Ocean's explanation from his pinned first SS post:
Chapter 2 will be reworked in two parts after Chapter 4.5 and the Chapter 5 release. Then all this rework for Steam stuff is done, and we can completely focus on the future.
Given that his previous releases (starting with CH 3) followed this pattern: CH x Beta, CH x Final, CH x.5 Beta, CH x.5 Final, I think we can expect the following:
CH 4.5 Final (adds CH 2, 1st half rework)
CH 5 Beta (adds new content from the end of CH 4.5 Final)
CH 5 Final (adds CH 2, 2nd half rework)
Once this is done, Season 1 (CH 1 - 5) is a wrap and we get a Steam release.
I've seen nothing from Ocean on Discord, SS or F95 that says he will vary from the above.