The latest PS4 and PS5 firmware update seems to be making console owners not able to log into their accounts and online gameplay, but it seems there is actually a real cause for this.
Just recently, a new firmware update was released for the PS4 and PS5 consoles. Its purpose was to make adjustments to the firmware system. It made changes to the Open and Closed parties feature, made new UI and accessibility features for the PS5, Voice Command tests for accounts, and improvements to the PS App and Remote Play experience.
With the new update, however, some games were not able to do online gameplay and that frustrated some players. Elden Ring players, especially, were shocked to see that their PlayStation Plus accounts could not be verified and they were forced to choose offline mode instead. Other players who wanted to play a certain Call of Duty title were not able to do online multiplayer due to this issue. They were getting worried.
As it turns out, Sony Interactive Entertainment officially confirmed on their PlayStation Network Status page that the network is down. Account management is okay, but other services are experiencing issues like gaming and social. They specified it affects PS4, PS5, and other platforms. Even the PlayStation Store is affected.
Players who want to play games with online features will have to wait while SIE fixes the servers.