WordPress 4.7.4 is a maintenance release and should be applied to take advantage of the bug fixes.
Things to note
WordPress version 4.7.4 includes 47 maintenance fixes and enhancements. You can read more by looking at the release notes: https://codex.wordpress.org/Version_4.7.4 You can also see the list of changes as well: https://core.trac.wordpress.org/log/branches/4.7?rev=40487&stop_rev=40224.
If you have not done so already – download the update or simply use your existing installation of WordPress to update your site. Either way – this is an excellent time to make a backup copy of your site(s) before upgrading.