The latest system software update 5.05 for the PS4 is available to download now. This latest update is mandatory to install because without it, you will not be able to continue connecting to the PlayStation Network. The last large update was 5.00 and it brought with it a number of important changes such as enhanced friends list, better broadcasting features, and more. It is stated the latest update 5.05 will improve system performance.
The update is rather small in size as it is only 375 MB to download. A major update is incoming however as a beta test for it will be held in February and Sony is currently accepting registrations from prospective participants. We’ll have to wait and see what this update will entail and when it is set to release.
If you are from North America, you can download update 5.05 from here and if you’re from Europe, you can download the new update here.