From your question, it was hard to tell what you know, if anything, about SW. What you asked about is a very basic process, unless I'm missing something important.
The best way to do specifically what you ask is to put part 1 and part 2 in an assembly. I would assume you would edit part 2 in the assembly and draw 4 lines such that the points in part1 correspond to the endpoints of the lines. That assumes that you have a plane to sketch on or don't mind using a 3D sketch. If you don't have a plane, planes are easy to create. It also assumes that the 4 points are coplanar, although technically it doesn't have to be that way. Anyway, once you have the 4 lines forming a closed loop you can extrude a block inside part2, associative to the points in part1 being edited in the context of the assembly. If the points in part1 move, and the assembly and part 2 are open, part 2 will update. Whether part2 gives an error or not will depend on how the points are moved. If the points move in such a way to make the lines in part 2 overlap, touch at a point, cross themselves or become zero length, the solid will no longer be created.
You can use sketch relations to draw a circle to extrude or a rectangle to revolve for the cylinder in part 3 using the same in-context technique.
To boolean part 4, you could use either an assembly or a single part. If a single part, you would use Insert > Part to put both parts 2 and 3 into part 4 and use the Combine command. Or you could just insert part
2 directly into part 3 or vice versa. If an assembly, you would edit part 4 in an assembly, use Join to bring part 2 into part 4, and then use Cavity to cut part 4 with part 3.