Basically this.
Imagine you're optimizing for PS4K and the general game logic takes 50% of your CPU time, while 50% of your CPU time is consumed by something that has something to do with graphics. Then you go to do things with PS4, and while there are no micro-optimization problems, PS4k has, say, 50% more powerful CPU, so now game logic takes 83% of your CPU time and PS4k graphics take another 83% of your CPU time. Since PS4 is not powered by programming proverbs or Russian election frauds, and you can't optimize game logic further (or else you would on PS4K already), you now have to reduce the graphical CPU processing by a factor of 5. Throw in communication buses, RAM issues, GPU, and so on, and you have quite a kerfuffle.