The newest major update for PS4, update 5.50, has been made available to download for everyone today. The update was previously available in beta testing for about a month; as such, most of what it brings to the table is well known by now: the ability to have custom wallpapers, or better UI and navigation options.
Given that this is a late life update for the system- the 5.50 should be a hint- there really isn’t much new left for Sony to add, and the relatively slim features list reflects that. Still, it’s a good update, and just being able to upload my own custom Makoto wallpaper on my PS4 makes it more than worth it for me.
The update should have downloaded automatically to your system, but if not, you will have to initiate it yourself- you should, too, since you won’t be able to access any network features until you do.
