If you are one of the lucky ones who have been able to overcome the PS5 stock issues and secure a console, then you will likely find that you will be prompted to install an update today.

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The 21.02-04.50.00 update is here and while an update is always a good thing – we love it when things get fixed – this is not one to get too excited about as while it will lead to improvements, there is not a huge amount to chat about with what new things will be included when you download it.

So for all we know about the PlayStation 5 21.02-04.50.00 update, here is the information!

What is new with the PS5 21.02-04.50.00 update?

Not much, as the patch notes are only one sentence long at the moment: This system software update improves system performance.

We did say there wasn't much to tell you! As for what aspects of system performance have been improved, Sony has not gone into specifics. We hope it will soon so we can update this page with all the tech speak that we all love but for now just know that whatever is in the update, it likely has improved something!

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This will likely be the last update for 2021 now, so will they have something special lined up for the first PS5 2022 update?

Speaking of updates to the new Sony console, it has been confirmed that BBC iPlayer is coming to PlayStation 5 which the BBC has said that it's "delighted" about.

Head of Product at BBC iPlayer, Neil Hall, said of the long-awaited addition to the PS5: “We’re always working to make iPlayer available across as many platforms as we can, and we’re delighted to add the PS5 to the 15,000+ devices where BBC iPlayer is already available.”

Follow Radio Times Gaming on Twitter for all the latest insights. Or if you're looking for something to watch, see our TV Guide.

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