The recentTime field represents the most recent timestamp seen for the given source, sourcetype or host, while lastTime represents the latest time ever seen for it.
Thanks Stephen. So just to confirm, recentTime is to most recent event time as lastTime is to most recent indexed time. Is that correct?
The second half of your analogy doesn't sound quite right, as lastTime is the latest timestamp in the index.
The recentTime field represents the most recent timestamp seen for the given source, sourcetype or host, while lastTime represents the latest time ever seen for it.
To add some clarity as that accepted answer is still quite vague or confusing...
The easiest way would be to relate these field names to _time and _indextime
recentTime = _indextime = last actual time this host was heard from by index(es) defined in metadata command, or in other more specific terminology, the last time it wrote logs to an index
lastTime = _time = time stamp of the events from that host by index(es) defined in metadata command, in other words the latest timestamp in the set of events defined by the search