Vacuolar serine-type carboxypeptidase involved in degradation of small peptides (PubMed:8679540). Digests preferentially peptides containing an aliphatic or hydrophobic residue in P1' position, as well as methionine, leucine or phenylalanine in P1 position of ester substrate (PubMed:8679540). Also plays a role in breakdown of the autophagic body and the autophagosome-dependent protein synthesis (PubMed:29514932). Plays a key role in phytochelatin (PC) synthesis from glutathione (GSH) by cleaving the Gly from GSH and form the PC-peptides of the structure (gamma-Glu-Cys)2-Gly (PubMed:17408619). Also involved in resistance to xenobiotics via the degradation of glutathione-S-conjugates (PubMed:19897216). Release of a C-terminal amino acid with broad specificity. Inhibited by ZPCK. kcat is 4900 min(-1) with furylacryloyl-Phe-Leu-OH as substrate. Optimum pH is 6.5. Active from pH 4.5 to pH 8.5. Optimum temperature is 30 degrees Celsius. The vacuolar sorting receptor VPS10 is required for the delivery of ATG42 to the vacuole lumen. Enters the endoplasmic reticulum as an inactive zymogen and is modified by four N-linked core oligosaccharides, giving rise to a precursor known as P1 (67 kDa). As P1 transits through the Golgi, extension of its core oligosaccharides leads to the Golgi-modified P2 precursor (69 kDa). P2 is sorted away from secretory proteins at or beyond a late Golgi compartment and is subsequently delivered to the vacuole via a prevacuolar endosome-like compartment. Upon arrival in the vacuole, the N-terminal prosegment of P2 is cleaved by vacuolar proteases to yield the enzymatically active mature vacuolar form of CPY (61 kDa). The four high mannose core N-glycans found in mature CPY are Man(11-15)GlcNAc(2) at Asn-124, Man(8-12)GlcNAc(2) at Asn-198, Man(9-14)GlcNAc(2) at Asn-279 and phosphorylated Man(12-17)GlcNAc(2) as well as Man(11-16)GlcNAc(2) at Asn-479. Leads to vacuolar defects as well as defects in the terminal steps of autophagy, when ATG42 is also deleted (PubMed:29514932). The PCR1/ATG42 double deletion abrogates also the production of phytochelatin and the degradation of glutathione-S-conjugates (PubMed:17408619, PubMed:19897216). Present with 44000 molecules/cell in log phase SD medium. Belongs to the peptidase S10 family.