$\binom{24}{4}\binom 42\binom 22/2!$ counts selections of 4 from 24 letters (without replacement) into two pairs when we consider permutation _of the pairs_ to be indistinct.
That is: we could select, for instance, ABCD, then divide them into pairs in three ways; which is $\binom 42/2!$ because, those pairings on the left column of the table are indistinct from those on the right of the same row. $$\begin{array}{c:c}AB,CD & CD, AB\\\ \hdashline AC,BD & BD,AC\\\ \hdashline AD, BC& BC, AD\\\ \end{array}$$