Google Authenticator has not made any major changes to the Android version for years. The previous big update was in 2017. The new update includes interface design changes and other features.
Google Authenticator is a security utility app that allows you to do two-factor authentication without the help of SMS.
The latest update makes it easy to transfer authenticated accounts on one phone to other phones. There is an import/export tool for that. With this we can create a QR by selecting the accounts we want to transfer to another phone.
Accounts will be transferred to the new phone by scanning the QR using the Authenticator app on which phone the account is to be brought. Previously, transferring accounts to another phone was a difficult task. Authy, the competitor of the Authenticator app, has come up with this feature before.