It seems that PlayStation 4’s firmware update 4.50 will allow us to use our external hard drives on multiple consoles as long as they’re tied to the same account. A test conducted by PS Nation has revealed that you can move the drive to another PS4 without needing to reformat it. There are a couple of things to note, however.
If you have a game or application installed on the external drive that’s also installed on the internal drive of the PS4 that you’re connecting to, an alert will appear asking you to either remove the application from the external drive or the internal drive of the PS4 that you want to connect to. Until you do that, you won’t be able to proceed.
Secondly, you can’t transfer your folder setup from one console to another. You will have to set them up on each console separately but the good news is that once you do that, the folders will remain in place.
Last but not least, PS Nation points out that you need to make sure to remove the drive correctly. Yes, this is an obvious one but it’s worth noting the steps that you need to follow to ensure you don’t mess anything up.
Hold the PS Button, and go to the Devices selection at the top of the Quick Menu. Choose “Stop Using Extended Storage” so that it properly “ejects” the device.
The full article goes into great length to explain each step in the process should you feel the need to use your drive on multiple units so make sure to follow the source link below.
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[Source: PS Nation]