That took me a moment as well, but it makes sense.
This snowfall (single-day) was the largest in 120 yrs... none bigger since 1895
The snowfall that was larger was 120 years ago, but no other recorded snowfall before that was larger than this one, so it is still #2 all-time...
And the fourth-largest is referring to total NOV snow accumulation, not a single-day NOV snowfall... some Novembers didn't have such a large single-day dump of snow, but likely had several days of snow with higher totals... but this one was so big that it alone put this NOV in the top four, with over a week to go to get even higher totals and maybe move up the rankings even more.
Oh, my!