What does it mean if console.log(4) outputs undefined in Chrome Console?

The undefined is the return value of console.log(...).

You can see this by defining two functions in the console, one returning something, and the other returning nothing, e.g. like this:

function f1() {
  return 1;
}
function f2() {
  return;
}

And then calling them separately (manually)

f1(); // shows '1'

and

f2(); // shows 'undefined'

Also note the little symbol before these return value string.