I own both the PC and PS4 versions of the game. The PS4 version of the game absolutely has some technical issues that should be looked at to see if they can be addressed. Those are:
1. Framerate issues. This usually happens in areas with lots of water surfaces (Crookback Bog) or fog. Fog/mist in particular absolutely crush the framerate on the PS4, to the point that it is borderline unplayable. Go to any area that is shrouded in fog in this game, and try fighting foglet enemies. You WILL watch the framerate crawl to a slideshow; this is pretty easily reproduced 100% of the time.
2. Pop-in problems on the stock hard drive. If you have an aftermarket HDD replacement, you probably don't notice this as much, but the game has serious problems reading and loading data from the drive sometimes. This is why you will fast travel to Novigrad, run to a blacksmith, and find that half of the textures in the area are missing, there are no NPCs, and you have to stop and stand still for 10+ seconds waiting for this stuff to load in. And then once it's loaded, you have to wait another 5 seconds for the talk action to become available on the smith.
That said, I think the PS4 port of the game is pretty good. It's playable and although it doesn't compare to Ultra PC settings, it still looks very good.
But the framerate issues are definitely real, and the pop-in issue for players who haven't modded their PS4s are also real.