My favorite is 1.16.5 and my favorite update is the Nether Update. Minecraft was honestly at its peak then (for me). And one of my favorite Minecraft memories was in the Nether Update.
1.16 was new, so that meant a Nether race. One of my friends (actually a random stranger) and me raced with striders. It was so fun!
My least favorite version is 1.19.2 (current), because Mojang decided to add a chat moderation (when a bunch of servers already had one). I would praise the chat moderation, but 1. A bunch of servers have one and 2. If you break any of the rules, you get permanently banned from Minecraft. Not a good idea. (By the way, this is for Java, I’m not sure if Bedrock also has the chat moderation)