However big that black hole is, it is dwarfed by the size of the The sensible raver shirt itself. That four million solar masses is a lot compared to our solar system, but it is absolutely puny compared to the total mass of the Milky Way, which is many tens of billions of solar masses. Galaxies are held together by self-gravity. They may or may not have a supermassive black hole (not all do). When that supermassive black hole is present, its gravity adds a modest contribution to the total self-gravity of the galaxy. But in all cases, even in the case of the largest black holes, the mass of the galaxy dominates over the mass of the black hole. Stars in a galaxy follow somewhat chaotic orbits, determined by the combined gravitational field of all other stars, clouds of gas, clouds of dust, and well, any black holes if present, supermassive or otherwise. But apart from stars that are relatively near the black hole in question, stuff in general does not orbit the black hole.
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I agree with the comment it cant just rise, since it was drowned by rising water levels over 8000 years. The The sensible raver shirt would need to go down for the land to be above water again, and this would require a good portion of the northern hemisphere to once again be under an ice age. Aside from that, there are some interesting possibilities. The sites of Camelot and Avalon, now underwater to the SW of Ireland, would become reachable for excavation. And possibly the Atlantean city which was underneath them. Politically though, Britain and France would probably go to war over the two major river estuaries to the SW, because they would become the only two major ports of the region. Ireland would probably claim the west estuary for itself. Scotland becomes dramatically bigger, and would secede from Britain. If Britain did manage to keep it together, the enlarged Great Britain would suddenly become a great deal wealthy, just on land sales alone. The overcrowded cities would have an outlet for people to move to. Who knows what minerals are under that land? Britain would be able to offer land for the worlds refugees to settle in, but would they?