The AppPool’s .NET CLR Version is different from the .NET Framework Version.
The .NET CLR Version 4.0 is the CLR base for the following .NET Framework Versions:
- 4
- 4.5 (including 4.5.1 and 4.5.2)
- 4.6 (including 4.6.1 and 4.6.2 Preview)
So having a .NET CLR Version of 4.0 just means you support the above Frameworks, which will run under their deployed framework version.
Source: https://learn.microsoft.com/en-us/dotnet/standard/clr#clr-versions
Update Feb 2020:
Here is a full mapping of CLR to .NET Framework versions, based off this official documentation.
https://learn.microsoft.com/en-us/dotnet/framework/migration-guide/versions-and-dependencies#version-information
CLR 1.0
.NET Framework 1.0
CLR 1.1
.NET Framework 1.1
CLR 2.0
.NET Framework 2.0
.NET Framework 3.0
.NET Framework 3.5
CLR 4
.NET Framework 4
.NET Framework 4.5
.NET Framework 4.5.1
.NET Framework 4.5.2
.NET Framework 4.6
.NET Framework 4.6.1
.NET Framework 4.6.2
.NET Framework 4.7
.NET Framework 4.7.1
.NET Framework 4.7.2
.NET Framework 4.8