A false vacuum decay means there is some quantum field that is stuck in an unstable (or rather “metastable”) state which then converts into its stable state ie. the true vacuum.
Beyond that it’s somewhat difficult to eli5 because a vacuum in quantum physics probably isn’t the vacuum you’re thinking of, which is a region of space with no matter. A quantum vacuum is a state of lowest energy, and if a decay occurred it would release massive amounts of energy and wipe out anything in the vicinity.
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