Step 1: List every outcome of the die.
$S = \{1, 2, 3, 4, 5, 6\}$, each with probability $1/6$.
Step 2: Directly identify the outcomes that satisfy odd OR less than 4.
An outcome counts if it is odd, or less than 4, or both. Checking each face: 1 (odd and less than 4, counts), 2 (less than 4, counts), 3 (odd and less than 4, counts), 4 (neither, does not count), 5 (odd, counts), 6 (neither, does not count). The favorable outcomes are $\{1, 2, 3, 5\}$.
Step 3: Count and divide.
There are 4 favorable outcomes out of 6 equally likely outcomes, so \[ P = \frac{4}{6} = \frac{2}{3} \approx 0.67 \] \[ \boxed{P \approx 0.67} \]