Unless you are really into the minutia of graphics and put excessive value on shading, AA, extremely detailed textures, long draw distances etc. you should be fine. As I mentioned in my previous post on the last page, the PS4 version appears to be shaping up nicely. No, Witcher 3 on consoles won't be quite as impressive visually as on a powerful PC, but that shouldn't dissuate you from enjoying the game (which, hopefully, will be so much more than just a graphical showcase).
Put it this way: Even if the PS4 version doesn't quite match the PC one on high settings, it in all likelihood will still be the best looking game for the system released so far. Also, do you really think the majority of people who buy this on PC have a powerful enough rig to actually max out (high, let alone ultra) the graphics? It's important to keep in mind that forums like this are not really representative of the actual gaming community. The people boasting about their Skynet-level computers here that will be able to run the game in all its shining glory probably constitute not even one percent of the people that will eventually play the Witcher 3. Most of them on console (whether XBoxOne or PS4). More than a few on a PC that just about manages minimum requirements. A lot of people that will have to settle with a mixture of low and mid settings. And so on ...