After days of testing, I’ve found that the PS4 Plex app is unable to play a 1080p MP4 when all other devices on network can. On PS4 the video typically appears to buffer at first then freezes the Plex app requiring you to close the app. Is this a known bug being worked currently? What is the ETA of a stable PS4 app?
I play 1080p all the time on my PS4. It might be your processor for whatever you have your PMS running on. Also check the settings on the PS4 plex app and see what they are. Try setting local to original if it is not already set. Also check to see if it is transcoding or direct play.