If you suffer the embarrassment of having a small disc, and a regularly teased by your friends who have huge discs, then your prayers have been answered. PlayStation 4 Firmware 4.5, which is about to go in to beta, will support external hard drives.
You will be able to connect a USB 3.0 external hard drive up to 8TB, and you can use it for everything, and yes, that include game installs. You can also move games currently installed on your PS4 hard drive to the external drive.
If you’re a PSVR owner then 4.5 will bring another new feature, you will also be able use your PS4 to play 3D Blu-ray discs and watch them in 3D on the headset. The Quick Menu is also getting a refresh, and you can set custom backdrops using screenshots.
Sony say they will reveal a release date in the next few weeks.
UPDATE: As spotted by NeoGAF, 4.5 also includes a “boost mode” for those with a PS4 Pro. It is appears that standard PS4 games with a variable frame rate would be more stable, although if a frame rate is locked it would not improve the game above the lock. For example a game locked to 30fps but dips down to 20fps in some situations would be improved, but the frame rate would never exceed 30fps.

kratos316
Will I be able to plug my portable hard drive into a different ps4 or ps4 pro and move my games into it? Like if my ps4 dies someday and I get a new one or is the hard drive locked to one system? Also, can the hard drive be NTSF or does it have to be formatted to FAT32?
RudeAwakening
I’m excited for the 3D implementation for the PSVR…prob more than a married man should be! ;)
MrYd
Seems like more beta invites have gone out today. I just got one.
Someone was asking about remote play? It says it’s only available on the Vita with the beta. Not PC/Mac/Sony’s phones.
And if you roll back to the non-beta version, your home screen will get all messed up. That seems to be the same thing that happens if you need to rebuild the database. (Maybe because it thinks you’re running out of space and doing that sometimes helps a bit)