While there is no ETA on future PS4 jailbreak exploits yet and current jailbroken PS4 5.05 consoles can run homebrew and play hundreds of PS4 Fake PKG games, those stuck on PS4 4.74 OFW due to a missing or broken Blu-ray drive can now directly update to PS4 5.05 OFW to enjoy all the fun of a 5.05 PS4 jailbroken console following the previously released PS4Brew 4.74 Kernel Exploit!

As a precaution, PS4 scene developers strongly advise those who attempt this PS4 BD Driveless Updating 4.74 (No BD) to 5.05 Patch Updater method to backup your HDD as soon as you're on 5.05 Firmware. 
From Logic-Sunrise.com, to quote roughly translated: [PS4] A solution to update from 4.74 to 5.05 with the HS reader!
The developer Zecoaxo informs us that a solution has just come out for those who were stuck in firmware 4.74 following a bluray drive out of order.
A direct update solution to version 5.05 is now available.
To update the console on the firmware 5.05, just run the HEN on the firmware 4.74, inject the payload jkpatchsyscall9.bin, install the package 505.pkg, then install the firmware 5.05 from a USB device connected to the console.
For the moment, no brick is raised, but hey you take the risk of experiencing this kind of problem.
To sum up:
All this has been tested on PlayStation 4 1000/1100 series consoles, but it should work on PlayStation 4 Pro, in fact the payload allows to launch on a console at HS bluray the update.
Zecoaxo recognizes that the most unstable part is the HEN that can crash when launching an application.
Everything is there: discordapp.com
Thanks to the devs who helped in this advance!
PS4 No BD 4.74 to 5.05 Update via tiago92ba
PS4 NoBD Updater for 6.20 FW
Warning: Based on Twitter replies and YouTube comments the NoBD 6.20 PS4 Updater is currently in a TEST phase only, as always what you do with your PS4 is your responsibility so proceed with the spoiler AT YOUR OWN RISK! 
Spoiler: Related Tweets, Demo Video & Files
PS4 Blu-ray Optical Drive Chip Swap Re-marry by NorthRidgeFix.com




From Logic-Sunrise.com, to quote roughly translated: [PS4] A solution to update from 4.74 to 5.05 with the HS reader!
The developer Zecoaxo informs us that a solution has just come out for those who were stuck in firmware 4.74 following a bluray drive out of order.
A direct update solution to version 5.05 is now available.
To update the console on the firmware 5.05, just run the HEN on the firmware 4.74, inject the payload jkpatchsyscall9.bin, install the package 505.pkg, then install the firmware 5.05 from a USB device connected to the console.
For the moment, no brick is raised, but hey you take the risk of experiencing this kind of problem.
To sum up:
- Remove any PUP from the / update / directory of your USB key
- Download the magic_update.7z (11.52 MB) payload jkpatchsyscall9.bin and the 505.pkg or here (Mirror)
- Put the PS4UPDATE.PUP on the usb0 (the PUP of 5.05)
- Install the PKG and restart
- Install syscall9 with payload
- Launch the HEN after sending it (zecoxao.github.io)
- Launch the upgrade from firmware 4.74 to 5.05
All this has been tested on PlayStation 4 1000/1100 series consoles, but it should work on PlayStation 4 Pro, in fact the payload allows to launch on a console at HS bluray the update.
Zecoaxo recognizes that the most unstable part is the HEN that can crash when launching an application.
Everything is there: discordapp.com
Thanks to the devs who helped in this advance!
- PS4 HEN 4.74 / 5.01: qwertyruiopz, Specter, CelesteBlue, zecoxao
- Updater for noBD PS4 4.74: LightningModz, theorywrong
- JKPatch Code: golden
PS4 No BD 4.74 to 5.05 Update via tiago92ba
PS4 NoBD Updater for 6.20 FW


Spoiler: Related Tweets, Demo Video & Files