PS4 system software update 4.50 to arrive on March 9

Sony has announced that the major system software update for the PlayStation 4, version 4.50 (codenamed Sasuke), will roll out to the console starting today.

Version 4.50 will bring notable improvements and features which include the following:
* External HDD Support
* Custom Wallpapers
* Quick Menu Refresh
* Simplified Notification List
* Post on PlayStation Network Activity Feeds
* 3D Blu-rays on PlayStation VR
* Improved 2D Images on PS VR
* Voice Chat for Remote Play
* Off Console Availability
* Boost Mode (for PlayStation 4 Pro only)
* PS Messages and Communities app Updates

To check for the update, just head to Settings –> System Software Update.

Hit the source link below for more details about version 4.50 for the PS4.

source: PS Blog