And if you are using conda, once available on conda-forge:
$ conda upgrade ipython
The biggest update to this release is the addition of %conda and %pip magic that should ease the installation of packages in the current environment. If you are on the bleeding edge this also adds compatibility with Python 3.8.
If you are looking to help for future 7.4 release, subscribe to this issue, I’ll update it with things you can help with. It is a great way to get started contributing.