Sony has released a minor update to the PlayStation 4 and it does exactly what you’d think it does… improves system performance. The update was released while the upcoming update, 5.0, is in beta, which caused some errors for some beta test participants.
Beta testers reported that update 4.74 automatically updating and causing them to lose their beta token. The issue appears to be fixed, as the update appears to have become optional for beta users. If they want the update, they have to manually update it.
Beta users have been advised that they will be able to upgrade to 5.0 beta 6 when it is released directly from 5.00 beta 5, to avoid some difficulties that come when “downgrading” to 4.74. If you do download the 4.74 update, you will be able to upgrade back to 5.0 beta 6, not beta 5.
Downloading and installing update 4.74 while you are in the 5.0 beta will reset your home screen and alter some other small things.
