chore: bump release version to 1.34.2

[mselim00]

What type of PR is this?

/kind cleanup

What this PR does / why we need it:
Adds a new release for 1.34.2

Which issue(s) this PR fixes:

Fixes #

Special notes for your reviewer:

Does this PR introduce a user-facing change?:

NONE

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[mselim00]

/cc @kmala

[kmala]

/ok-to-test

[kmala]

/lgtm
/approve

[k8s-ci-robot]

[APPROVALNOTIFIER] This PR is APPROVED

This pull-request has been approved by: kmala

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