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Fall Guys update 1.23 is the mid-season update that will bring content from patch 4.5 to all platforms. Here are the patch notes for this update.
This update brings two new rounds: The Slimescraper, and Button Bashers. In addition to these two rounds, other features include 55 additional variations across 12 rounds and custom lobbies. This opens the possibility for players across the PC and PS4 to play online multiplayer together thus bringing support for cross-play.
You can have a look at the complete set of patch notes for Fall Guys update 4.5 below. This patch will be deployed on May 13 on PC and PS4.