Just now, Sony announced the availability of a new firmware package developed for its PlayStation 4 gaming console, namely version 1.74, which includes some system software stability improvements during use of some features.
If you consider updating to this release, from the function screen, simply go to Settings → System Software Update, and the device automatically checks and installs a new firmware. However, bear in mind that this method requires an Internet connection.
In the event that the aforementioned requirements cannot be fulfilled, you can still upgrade your PlayStation 4 by manually applying the new 1.74 firmware. For that, format a USB drive in FAT32 and create a “PS4/UPDATE” path on the flash drive.
Now, download the “PS4UPDATE.PUP” file within the newly-created “UPDATE” folder, turn off the PlayStation 4 completely (if the power indicator is orange, touch and hold the power button for at least 7 seconds), and connect the flash drive into the console’s USB port.
All you have to do now is to start the PS4 in safe mode (touch and hold the power button for at least 7 seconds), go to the “Update System Software” section, and follow the on-screen instructions for a complete and successful installation.
That being said, download Sony PlayStation 4 Firmware 1.74, make sure you are familiarized with the installation steps, and update your console to the latest firmware version.