Similar approach seems to have worked well for Java. There are long term releases like versions 8,11,17 and everything in between are kind of catch up releases

Similar approach seems to have worked well for Java. There are long term releases like versions 8,11,17 and everything in between are kind of catch up releases with short term support cycle. Enterprises typically adopt LTS releases while enthusiasts/startups/developers would tinker with other short-term releases and give valuable feedback back to the community.