doc: add issue labels sections to release guide

PR-URL: #35224
Reviewed-By: Beth Griggs <Bethany.Griggs@uk.ibm.com>
Reviewed-By: Richard Lau <riclau@uk.ibm.com>
Reviewed-By: Daijiro Wachi <daijiro.wachi@gmail.com>
Reviewed-By: Anna Henningsen <anna@addaleax.net>
Reviewed-By: Rich Trott <rtrott@gmail.com>

doc/guides/releases.md

@@ -747,6 +747,14 @@ For example:
 
 The changes must be made as part of a new semver-minor release.
 
+### Update release labels
+
+The `lts-watch-vN.x` issue label must be created, with the same color as other
+existing labels for that release line, such as `vN.x`.
+
+If the release is transitioning from Active LTS to Maintenance, the
+`backport-requested-vN.x` label must be deleted.
+
 ## Major Releases
 
 The process for cutting a new Node.js major release has a number of differences
@@ -783,6 +791,21 @@ One month or less before the release date, commits must be cherry-picked into
 the two branches. To land `SEMVER-MAJOR` at this time requires no objections
 from the TSC.
 
+### Create release labels
+
+The following issue labels must be created:
+
+* `vN.x`
+* `backport-blocked-vN.x`
+* `backport-open-vN.x`
+* `backport-requested-vN.x`
+* `backported-to-vN.x`
+* `dont-land-on-vN.x`
+
+The label description can be copied from existing labels of previous releases.
+The label color must be the same for all new labels, but different from the
+labels of previous releases.
+
 ### Release Proposal
 
 A draft release proposal should be created two months before the release. A