After a few people got to download the beta a little early last week, PlayStation has now officially revealed PS4 Update 5.50 alongside the beta going live today.
Play Time management
In system software update 5.00 we introduced a range of parental control enhancements. These allowed assigned Family Managers to easily control what each individual child plays, watches and views online.
Play Time Management builds on this, giving Family Managers (and adult family members who are set as guardian), the ability to set limits on when and for how long each individual child can play for. Managing Playtime is easy; go to Settings > Family Management on your PS4, or sign in to PlayStation Network account as a family manager or guardian on your web browser from your PC or smartphone, to check and manage your child’s playtime each day.