https://wccftech.com/playstation-4-system-update-7-0-releases-this-week/

Sony has announced that PlayStation 4 system update 7.0 will be released globally this week.

As covered earlier, the new firmware update will offer updated party features, including 16-player parties, chat transcription and improved audio quality. In addition, the improved back-end also improves network connectivity which should resolve most of the connectivity issues when connecting with other players. The update will also pack system level HDR tuning.