https://www.polygon.com/2017/10/3/16410818/ps4-firmware-5-0-release-date

Sony’s latest firmware update for the PlayStation 4 is now available, bringing the system software to version 5.0. But while you might expect this to be a major revision, with some significant new features or functionality, the v5.0 update appears to be full of relatively minor changes.

The headlining feature in PS4 v5.0 is an overhaul of the way Sony handles PlayStation Network accounts for families. The new system allows multiple adults to use “parent/guardian” labels and jointly run a family’s account, and lets them adjust parental controls independently for each of the child accounts in that family.