First the hackers have to find a jailbreak exploit in the iOS firmware, then they make a jailbreak out of that exploit. As soon as they release the jailbreak, Apple can immediately figure out where the exploit is and then patch it in the very next firmware. So every time the hackers release a jailbreak they have to "burn" the exploit they used to make the jailbreak.
Since 4.2.10 is a minor update that adds absolutely nothing to the iOS, it would not make sense for the hackers to waste an exploit on it. Especially with iOS5 being right around the corner.