Google Analytics 4 Engagement Rate
The GA4 Engagement Rate is the percentage of Engaged Sessions - the higher the percentage the better (as opposed to the GA-UA bounce rate where a lower percentage was preferable).
A GA4 engaged session is one that meets any of these 3 requirements
Stayed on the page with the window active for 10 or more seconds (10 seconds is the default - within GA4 admin you can adjust the threshold to 20, 30, 40, 50 or 60 seconds) OR
Visited 2 or more pages OR
Triggered a conversion event.
GA4 has recently re-introduced Bounce Rate but has redefined what it means. A bounced session is defined in GA4 as a non-engaged session - so it is effectively the inverse of the GA4 Engagement Rate. If your Engagement Rate is 58.43% then your Bounce Rate is 41.57%. As such the Bounce Rate in itself is a fairly pointless metric as can be seen from the table below. Engagement Rate and Bounce Rate always adds up to 100% - the one you use will depend on whether you are a “glass half full” or “glass half empty” sort of person!