Proceeding their previous PS4 OFW revision and 10.50 PS4 Beta Firmware / System Software updates, today Sony officially pushed live PS4 System Software / Firmware 10.50 with the PS4UPDATE.PUP and changes outlined below. 
As always, DON'T UPDATE if you wish to use PS4 Game Backup PKGs via PS4 Torrents and Homebrew Apps whenever a new PS4 Jailbreak Exploit arrives in the PlayStation 4 Scene.
Download: PS4 Firmware 10.50 Update (US) / PS4 Firmware 10.50 Update (EU) / PS4 Firmware 10.50 Update (UK) / PS4 Firmware 10.50 Update (AU/NZ) / PS4 Firmware 10.50 Update (JP)
Below is the official v10.50 PS4 Firmware Changelog from Sony's page: PlayStation 4 system software update - PS4 10.50 system software features
PS4 Version 10.50
Main features in the system software update
Spoiler: Related Tweets


Download: PS4 Firmware 10.50 Update (US) / PS4 Firmware 10.50 Update (EU) / PS4 Firmware 10.50 Update (UK) / PS4 Firmware 10.50 Update (AU/NZ) / PS4 Firmware 10.50 Update (JP)
Below is the official v10.50 PS4 Firmware Changelog from Sony's page: PlayStation 4 system software update - PS4 10.50 system software features
PS4 Version 10.50
Main features in the system software update
- You can now access your authorized apps in [Settings].
- Authorized apps are third-party apps and services that you've linked your account for PlayStation Network to. When using an authorized app, you give permission to share your account data with that app.
- To view and manage your authorized apps, go to [Settings] > [Account Management] > [Authorized Apps], and then scan the QR code with your mobile device.
- Friends that are active on PlayStation App will now show up as online on your friends list.
- Unicode 15.0 emoji can now be displayed.
- You can see which of the players in your game session are on other platforms for games that support this feature.
Spoiler: Related Tweets