T2 has two possible meanings. One is a parameter on an MRI scan. Comparing T1 and T2 images helps clarify the image. The T stands for relaxation time, of nuclear spin. The other possible meaning is Tumour stage 2, I doubt that is what "T2 in all areas" means for you.
As your prostate volume is 72 which is over twice normal size, your PSA of over 4 is not very alarming.
An increase in PSA is of some concern but can be caused by many things, most notably infection. If the MRI showed anything of concern then a biopsy will be next on the list. If not, then they may suggest a repeat PSA in a few months. Until you get more information, there is not much point in getting worried. The fact you are 62 means you have more chance of having prostate cancer than not having it, but as of yet there is no evidence that you have a troublesome version of it.