I think its a little too soon to say, as I'm not sure many developers have ported their work over to Godot 4 yet.
From my experience working with Godot 4 source code, it should be easier to port than the conversion process from Godot 2 to Godot 3, which basically required rewriting large sections of code. Godot 3 should only need minor API changes and tweaks in most cases, especially on the node renames, but some functions have different arguments (or different order, mainly physics) and this can be a touch harder to debug. Additionally, GDScript 2.0 requires much stricter typing, so if you are using the optional typing in GDScript in Godot 3.0 it should be a relatively smooth transition, but if you are not using optional typing, then it will be much harder.
It should be doable to convert projects from Godot 3 to Godot 4, but it is going to take some time, even if there is a conversion tool (which to be honest, I'm not sure if development has started on it or not...)