The next major PS4 system software update is getting close to release, and Sony Interactive Entertainment is starting to recruit beta testers. The notice and recruitment details first went up on Japanese PlayStation Blog, while the North American and European branches of PlayStation put up their own notices shortly after.
This update is numbered 5.50, so it might be slightly smaller than those that come with a full incremental number.
The latest major system software update released for the PS4 was 5.00, nicknamed "Nobunaga" and released back in October. In came with an updated 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.
While we don't know what is inbound with the new update, because it's undergoing user testing, it won't be just another stability or "improvement of system performance" update.
The Playstation Blog doesn't offer any other hints as to what we should expect from 5.50 but does point out that, "Beta testers for last October's PS4 system software update 5.00, got early access to features like Family on PlayStation Network, friend list management, message improvements and much more before launch." So it looks like Sony is taking recruitment for this beta very seriously.