Thanks, for posting link. To avoid having to copy paste link, here's the answer from Telerik:
The Telerik Platform team has taken immediate actions in order to introduce the specific Cordova version in the very near future. Here is our plan:
Cordova for Android 4.1.1 will be available in the AppBuilder's Cordova 4.0.0 (Android 4.0.2, iOS 3.8.0, WP 3.8.0-2) set. This means that, the Android version will change from 4.0.2 to 4.1.1 there. Thus, you will be able to choose between the Cordova 4.0.0 and Cordova 5.0.0 sets in AppBuilder, as both will meet the requirement from Google.
We will extensively test the 4.1.1 Cordova version before releasing it to the public in order to avoid breaking changes in existing Cordova 4.0.0 applications. Still, we recommend re-testing existing applications after the change and reporting any malfunctions to our support team. We will do everything possible to fix such on the go.
The Cordova 4.0.0 (Android 4.0.2, iOS 3.8.0, WP 3.8.0-2) set will become default for new AppBuilder applications. However, for existing apps using Cordova 3.8 and below, you will need to manually migrate to 4.0.0 if you plan to publish new versions in Google Play.
All of the above mentioned steps are planned to happen by the end of March, so that Android apps can be updated and re-tested before May 9, 2016.
For further questions, please contact our support team.