A new update has been released on PS4 on April 16, 2020.

Playsation 4 Release Software Version 7.50

This system software update improves system performance



Click the following link for more info on the update


Ways to update your PS4:

1. Connect ethernet cable to the PS4 and download directly. The system will automatically restart and install the file.

2. Connect a USB Flash drive with at least 460 mb of free space. 16+gb drives are very cheap now, so you might consider buying those.
You can either download the update file, or if you are doing a fresh, clean install, you can download the enitre system software file.

Note: doing a clean install from a complete system file will erase your Playstation. Only do this if you have everything backed up to an external drive and you are ready to continue. I do this when I swap out hard drives for a faster solid state drive.