Should be OK if you are sure that the switch box with the 2 circuits did not have other wires going to other outlets and such.
You should now have 1 black hot wire going to a switch and a black wire from the same switch going to a light.
The black hot wire from the 2nd circuit should be capped off with a wirenut. I would remove the 2nd switch and wire from the box but up to you.
IF you have any other wires tied to the hots in that switch box then you could be EITHER overloading the one circuit while leaving nothing on the other circuit. OR you could still have a problem with 2 circuits tied together.
It seems that if that was original wiring then there would have been more than 4 lights on a circuit. Maybe thats what confused the person who did the switch box in the 1st place. If it were me I would have just added the 4 lights to the 1st circuit.
I would separate the white neutral wires as well. I've been shocked when working on a circuit where just the neutrals from
2 circuits were tied together.Grounds are OK to be tied.
Also if it were my house I would go and map out every single circuit in the house - one breaker on at a time.
Kevin