By default, the PS4's HDMI output is set to automatically match the TV you connect. If any manual adjustments are needed:

From the Dynamic Menu's Home Screen, press UP on the d-pad
Choose [Settings] > [Sound and Screen] > [Video Output Settings]
Depending on the type of TV you have, there are 3-4 available options:

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Resolution: Choose from Automatic, 480p, 720p, 1080i, and 1080p.

TV Size: (This is displayed only when a 3D-compatible TV is connected.) You can set the screen size to match the size of the 3D-compatible TV you use.

RGB Range: Change this only when you use an HDMI device that does not send RGB range information correctly. [Automatic] is the default and recommended setting. If you'd like to change this setting, check your TV's capabilities before doing so.

Y Pb/Cb Pr/Cr Range: Change this only when you use an HDMI device that does not send Y Pb/Cb Pr/Cr range information correctly. [Automatic] is the default and recommended setting. If you'd like to change this setting, check your TV's capabilities before doing so.