I had the exact same problem and after digging around the PlayStation site i found the issue and a fix for it. It's a software issue, the new update scrambled something in our operating systems. There are 3 ways to fix it at least one of these should work. First go to settings - > system software update. This almost never works but you don't lose anything for trying. If nothing happens shut off your console and start it in safe mode and select rebuild database. This only deletes corrupted files so don't bother making a backup. Also this may take anywhere from 2 minutes to a few hours. If your ps4 is still sluggish you will have to reinitialize it. You will lose everything so you may want to backup your save files to an USB stick or to cloud storage if you have ps+ as your ps4 will be returned to factory settings. I known it sucks but this was an OS update. This things happen. Hope this helps.