TIL UUIDv4 vs UUIDv7

I've always run with UUID v4 because it's the default for the Ecto.UUID library in Elixir. However a coworker recommended UUID v7. Having never really looked into UUID other than to implement as a primary key the distinction was news to me.
Effectively;

• UUID v4 is a totally random hash that is generated and extremely unlikely to ever conflict with any other generated UUID.
• UUID v7 also contains a random hash but is also based on a timestamp, this means you can sort them and index them.
  For further reference, yes there are UUIDs v1-v8 as of this writing. If you want a good description of each you can check out this helpful link.