Sony will soon release a major software update for PlayStation 4 that will add support for external HDDs. It will also bring more features to the quick menu, make it possible to use your own wallpapers, and enable playback of 3D Blu-rays in PlayStation VR.
Update 9.3.2017: The software is now available to download, confirms Sony.
Software 4.50 for PS4
Software version 4.50 will be one of the major updates. It is available now for beta testers and will be released to everyone later.
The following features were highlighted:
External HHD support: If you want more storage space for storing games you can in the future connect an external USB 3.0 hard disc drive.
Custom wallpaper: Use your own screenshots as wallpapers on the home screen. You can also create your own by using the ‘Photo Mode’.
Quick menu refresh: The quick menu to the left was introduced with the last update. This update will make it easier to do more, including ”creating new parties, inviting friends, and joining parties, without transitioning to the separate Party app”. The quick menu will also take up less space.
Simplified notifications list: The notifications list will be simplified, bringing together ”Game Alerts, Downloads, Uploads, and more” in one list instead of several. You can select which notifications you want to see (and not see).
3D Blu-ray in PlayStation VR: The update will enable playback of 3D Blu-ray movies inside the PlayStation VR headset.
PS4 Pro boost mode: Today, all games need to be software patched to take advantage of the extra power inside PS4 Pro. With "boost mode" PS4 Pro can automatically improve gameplay for some games: "Experience improved gameplay, including higher frame rates, for some games that were released before the introduction of PS4 Pro (CUH-7000 series). Turn this off if you experience unexpected behaviour during gameplay". Video demo here.


Sony says that it has additional features planned for software version 4.50 that have yet to be announced.
The update will be available on PS4, PS4 Slim and PS4 Pro. Sony has yet to confirm release timing.
- Source: PlayStation