PS4 system update 5.50 is currently in beta, and now the future PlayStation 4 firmware has been fully updated. Sony has now confirmed a list of new features, which include play time management, several user interface changes, the ability to play background music on PS Now, being able to add custom wallpapers via USB, and supersampling for PS4 Pro owners. That’s a lot of changes, and it’s pretty clear now why Sony is currently beta testing it.
Here’s the full list of new PS4 system update 5.50 features (via the PlayStation Blog):

Play Time Management
We?re introducing Play Time Management, which will allow family managers (and adult family members who are set as guardians) to manage PS4 playtime for child family members on family on PSN. Managing Playtime is easy; go to Settings > Family Management on your PS4, or log into your PlayStation account on your web browser from your PC or smartphone, to check and manage your child?s playtime each day. If needed, the family manager/guardians can apply playtime restrictions to make sure that the child is only playing for a set amount of time or within set playable hours. Notifications on PS4 will be sent to the child during gameplay so that he or she knows when they should save and quit. The family managers/guardians also have the option to add extra game time via their smartphone or PC. In addition, the family manager/guardians can choose whether or not to automatically log the child out of their PS4 once the...