Sony has announced that a new Media Player update will be released tomorrow, March 28th, that will add 4K media playback support to the PS4 Pro. This means that people will be able to play 4K footage from USB storage drives or home servers directly on the console. At the same time if you own a PSVR the update will allow for playback of 4K VR videos. With 4K VR, the PSVR’s resolution of 1920 x 1080 means that this update will show videos at a higher quality than the standard HD VR videos.
One thing to note is that USB storage cannot be used for both generic data storage and for the PS4’s recently added extended storage feature. Extended storage is used purely for games and once formatted by the PS4 won’t be recognised by your computer. If you’ve got something suitable – a nice fast USB stick or something – then the next step is just to ensure that the files are MP4 format.
Source: PS Blog