Iron Galaxy and The Fun Pimps announced today that they’ve released 7 Days to Die update 1.03 for PlayStation 4 and Xbox One, which aims to fix crashing, freezing, and an infinite loading screen.
Weighing in at 686MB on PS4, the update also improves lighting and shaders, fixes a performance issue near objects emitting fire, and fixes a number of other issues, as you can see from the patch notes:

Stability Issues and Improvements

Fixed an issue where players would get stuck on the Building Environment screen when attempting to load into a save game with corrupted terrain: The fix works by replacing corrupted terrain chunks with their original versions; this may cause loss of anything built or modified in these corrupted chunks
Fixed an infinite loading screen that would sometimes occur when the player would disconnect the controller on the Building Environment screen after dying Fixed a crash that would sometimes occur when the player would draw water from a non-ocean source
Fixed a crash that would sometimes occur after the second player would quit out of a Local Multiplayer session lasting longer than an hour
Fixed a crash that would sometimes occur when using antibiotics on the Player Menu
Fixed a crash that would sometimes occur when shooting enemies with an AK-47
Fixed a crash that would sometimes occur when navigating inventory menus
Fixed a crash that would sometimes occur when many players would join and exit an online game repeatedly
Fixed a crash that woul...