http://wccftech.com/sony-warns-limitations-5-0-beta-firmware-4-74/

Sony has warned PS4 5.0 beta testers that updating to PS4 firmware 4.74 will result in several restrictions.

PlayStation 4 software update 4.74 was released for the public yesterday, and various beta 5.0 testers already reported various issues after updating to the latest firmware version. Some users even reported that they had to completely re-initialize their PS4 in order to get it working again. In an e-mail sent out to users participating in the 5.0 beta, Sony has now advised users to refrain from installing the 4.74 software update if they want to avoid experiencing several issues. You can read the contents of that e-mail below: