So you can do this, but it might not end up being what you're hoping due to the wireless component. I explain this more below.
Also "4.2" wouldn't be what you're saying you want. There's mixed terminology here, and computer speakers are on the "misbehaving" end of it. For example, in 5.1 the ".1" is a separate subwoofer channel, but you don't have that. The speakers do have "bass units" (I don't like that people call them 'subwoofers' because they don't do what 'subwoofers' do) but those bass units aren't separate, they are just on a crossover handling lower frequencies from the main speakers.
So now that we can talk with the same terminology, here's what you can set up:
You could make a 4.0 setup, referred to as "quadraphonic" in Windows. This would give you actually pretty good front / rear positional surround in games. It won't do much for you in movies or music though. Your bass units would both be running, you just do not have the ".1" or ".2" subwoofer channels.
To do this, you would plug the second set into an extension cable to the second line out jack on the back of your computer.
You could also make a stereo setup where each speaker set is one channel. One set is the left, the other set is the right. I normally recommend against doubling up speakers, but these are so tiny and need so much help in terms of cone size, that the quality issues from 'doubling up' would be much smaller, and completely eclipsed by the benefit of just allocating more surface area to the midrange to compensate for the tiny speakers.
To do this you would probably stack a bunch of adapters to kludge together what you need. There won't be anything for doing this in one step, it's too far out there. I would start with a 3.5mm to RCA adapter. Then you need to split both RCA plugs with simple Y cables. Then you combine the RCA back into 3.5mm jacks and plug your speaker sets in to those.
When doing this I'd recommend thinking in terms of left, right, red and white. You're splitting your stereo audio into left and right. You split the left into "red and white", then put those back into a 3.5mm plug to your left speaker set. Then split the right channel RCA into "red and white", put those back into a 3.5mm jack and to your right speaker set.
The reason you need so many steps is every 3.5mm or similar adapter you'll find for single RCA jacks is going to be mono TS type, which unfortunately shorts the right channel to ground. You need the extra layer of splitters to get two plugs, so you can get an adapter that's actually stereo.
Now, after saying all that, some caveats you probably didn't think of, that might make this not work. (Still worth trying, if you have both sets and all you need is $20 worth of adapters, just be warned.)
First, wireless means digital transmission, and digital transmission always comes with some amount of latency you can't usually control. The kicker is that latency is sometimes random, depending on the condition of the airwaves when you turned on the set. If the transmitter just blindly transmits and the receivers pick it up, you might be fine. But, if the transmitter and receivers have any kind of handshake (like "hey I want to transmit, are you there"), the amount of time it takes to do that handshake sets your latency. You see this a lot with Bluetooth, the latency of the connection is different every time you connect.
You don't notice this on your speakers because they do the left and right channel at the same time all on one chip. However, put in two sets at once, and if they do work this way you would end up getting weird phase offset, "cave echo" or "double-tap" effects in the audio. This could manifest as anything from perceiving centered sound as coming from the left or right regardless of the relative left/right volume, to hearing things twice.
Or, it might work, but if it does...
Second possible issue. If those speakers do NOT do any kind of "handshake" on startup, THAT means they might not have any way to handle the fact that you've got two of them plugged in at once. Back in the day we used to have to set things like walkie-talkies, remote control cars, and game consoles with "antenna" output to different channels when there were more than one. (Atari on channel 4, NES on channel 3, or whatnot.)
So if the speakers are the type of "blind broadcast" transmitters that would have the same latency, that might mean they can't both run at once.
There's a chance, in that last circumstance, that one bass unit would drive both pairs of satellites. But, then you might not be able to balance the volume difference.
So, this is definitely going to be an experiment! If you've got $20 to blow on adapters for something that might not work, go for it.
The only thing I'm initially not quite understanding is the Audio part of the matrix. Those are outputs only right?
The MVX 84 I linked has 3.5mm jacks for audio inputs next to each of the DE-15 ports. The Retro Access cables have a 3.5mm audio breakout, so they'll connect right up. For the PS2 component cable, you'd use one of these for the audio input. The audio outputs are Phoenix connectors, so you'd need to adapt those.
Does all of that sound right?
Yep. If you want, you could also connect output 4 to the component input of the second RetroTINK-5X, so you can use the PS2 with either one (or even both at the same time).
I bought them second hand so I didnt get this cable unfortunately. I bought this adapter to hopefully fix the issue. Will this diminish audio quality?