The developers released the official patch notes for Street Fighter 5 Season 4.

General

Moves with Armor
-If your character’s vitality is reduced to zero, they will be KO’d even if they have white gauge remaining.
-Stun values for opponent attacks that are absorbed by the armor state have been reduced from 100% to 50%.

Invincible Moves that can be counter-hit after the move ends
-Among the invincible moves where the counter-hit status continues up to the end of the move, for moves are invincible from 1F, damage dealt during move recovery will be 1.2x that of the normal damage dealt. Please refer to each character to see which moves have been affected.

Invincibility on V-Trigger Activation
-The invincibility during the screen freeze for V-Trigger activation differed, as there were some characters who took a hit and others who did not. This has been changed so that all characters will take the hit if it lands during the screen freeze of a V-Trigger activation that was not canceled into. See each character’s change list to see which characters are affected by this change. For V-Trigger activation cancels, refer to each character’s change list.

Behavior when taking damage during screen freeze
-If a character received damage during the V-Trigger screen freeze, the recovery for the character that took damage would be shortened by 1F. This has been fixed to the intended values.

Behavior when certain attacks hit during screen freeze and KO animation
-Fixed the phenomenon where, if certain attacks connected at the same time as the CA, V-Trigger, or KO animation, the character would behave in an unnatural way. Applies to: Ibuki, Dhalsim.

Behavior when inputting EX Special Moves as a Reversal
-Fixed the phenomenon where, if using a certain button when inputting an EX special move as a reversal, the move would come out 1F slower than usual.

Behavior when Inputting certain commands as a Reversal
-Fixed the phenomenon where, if a forward or backwards dash was input at the same time as a command at reversal timing, the command move would come out after the dash.

Developer Notes – Crush Counters were adjusted as a part of the Season 3 adjustments, but as a result this lead to a decrease in risk for invincible moves, so this time around we’ve made adjustments based on that. For moves such as the EX Shoryuken that are invincible from 1F, and have counter-hit status until the end of the move, when blocked they will be subject to taking more damage upon counter-attack. Only the first hit will deal 1.2x damage, but depending on the move used to start the punish, it could lead to a very damaging punish.

Regarding moves with armor, considering that the number of armored moves is increasing while there aren’t very many armor break moves in the game, we’ve changed it so that a character can be KO’ed if their vitality drops below zero even during an armor absorb. As a trade-off, we’ve adjusted it so that the damage dealt to armored moves is reduced.

There was a large discrepancy in characters who could take advantage of the V-Trigger activation invincibility window, as well as the invincibility time or presence thereof, so we’ve made changes to make it more universal across the board.

Also, in regards to moves that trigger a Crush Counter, the amount of V-Gauge meter gain was adjuster overall taking into consideration the ease of inducing a Crush Counter and the strength of the return.