Show notes are the text description of a podcast episode. They are the only place where the content of an episode can be searched for and cited, since the audio itself is hard for both search engines and models to process. Usable show notes contain a summary of what the episode is about, in one paragraph right at the start, an introduction of the guest including their expertise, timestamps naming the individual topics, links to everything mentioned in the conversation, and a few key ideas in the form of quotable sentences. For episodes with expert content, it's worth adding a transcript too. A short description in the style of a single sentence and a link to the guest's profile is a wasted opportunity. Publish the show notes as a standalone page on your own website too, not only in the description on the platforms, otherwise the content stays off your website.
See also: Podcast Distribution, Video transcript, Content repurposing.