Update 4.70 for the PS4 rolled out earlier today and while most users were able to update just fine, it looks like several users have encountered serious problems after installing the latest update including locked-up and, in some cases, bricked consoles.
Both standard and Pro PS4 owners have reported encountering the issue so it doesn’t seem to be exclusively affecting either version of the console. If you’ve yet to download or install the update, it might be safer to hold off until Sony comes out with a statement.
If you do encounter a frozen screen on startup after installing the update, here are a few fixes users have posted that you can try to get your PS4 up and running again:
“Same thing happened to me this morning. Turn off your ps4 by holding the power button. Boot to safe mode by holding the power button until you hear two beeps. While in safe mode, restore storage, restart, boot back to safe mode, then install the update (use the from internet option) from there. Fixed the issue and working as usual. Hope that helps someone.” – Greavar
“Fixed it by booting in Safe Mode with the LAN cable unplugged (turn off router if you’re using WiFi). Then Rebuild Database and it should work fine after. It’s safe to connect to internet and update then.” – TheEmqeror
“Disconnected external hard drive Started in safe mode (then it wouldn’t pick up my controller, so turned it off) Restarted x 2 after only getting to the blue screen Got to main menu, reconnected the external hard drive, let it repair it Restarted again, this time it let me connect to the playstation network and download the update” – I_LikeDots
It must be noted though that your mileage may vary with these fixes and you will be troubleshooting at your own risk.
[Source: Games Radar]