If you're like me , a loooooooooong wait.
My PS4 is plugged in via Ethernet with a 40Mbps connection and it's taking forever.
Mine actually slowed down notably for a while, I thought it had froze, but I did a speed test and then I went back to look at the speed it was downloading and it definitely began to download at least 1mb/s that was visible. Probably was just a fluke but theres something screwy with the PSN and PS4.