Final answer:
The nurse should assess the 3-year-old child with increased work of breathing and wheezing first, as this is a potential medical emergency requiring immediate attention.
Step-by-step explanation:
In assessing which of the following children should be assessed first by the nurse receiving the change-of-shift report, the priority would be Option 4: the 3-year-old with increased work of breathing and wheezing. Respiratory distress is a potential medical emergency and requires immediate assessment and intervention to ensure that the child's airway remains open and that they are receiving adequate oxygenation. The other children present with less acute issues: an 8-year-old with a stable arm fracture, a 5-year-old with a recent history of chickenpox, and a 10-year-old with mild abdominal pain can be assessed after the 3-year-old.