The only bad news here, really, is that it doesn’t look like Sony is ready to offer a flat replacement yet for units with this problem. Thee company does, however, offer a solution that might work.
Brace yourselves, because it’s little more than powering off the console. As the video shows above, from the system’s on position, hold down the power button until you hear a second beep (after the first that comes immediately) and unplug the PS4 for three minutes. Then, well, boot up.
If that doesn’t work, Sony’s directing users to find a repair center through this link: https://rma.scea.com/. We assume that means users will need to pay for repairs. Expect that to stay true until this grows into a much larger scale problem.