It appears that PlayStation 4 users can expect a new PS4 system software update in the coming weeks, as Sony has recently announced it is looking for beta testers to check things out and offer some preliminary feedback.
Interested applicants can follow these links if they intend to register (North America will be added when the appropriate links go live):
From the looks of things, this update won’t be as significant as system software update 5.00 or “Nobunaga,” as the update version is a half number. As you might recall, Nobunaga arrived in Oct. 2017 and introduced a variety of features and updates, such as an overhauled family system, better friend list management (including the ability to follow anyone), improved broadcast features, messages and notifications, team tournaments, virtual surround sound for PlayStation VR, and more.
By comparison, 5.50 will likely bring lesser (or fewer) improvements/features. That said, Sony still apparently views this update as somewhat important (i.e. something more than just a stability or system performance update), as it probably wouldn’t bother with holding a beta at all.
In either case, it won’t be too long until we learn exactly what system software update 5.50 has in store for us.