Hacker Qwertyoruiop, who’s been one of the most productive hackers of the PS4 scene, has stated that he doesn’t have a 5.50 Kernel exploit for the PS4 at this time. He added he is not looking for one at the moment.
We recently gave a detailed explanation on the current status of PS4 Jailbreak in 2018, and that explanation still holds: if you’re on firmware 4.55 or below, great, you can hack your PS4. If you’re above 4.55, but on 5.05 or below, we know Qwertyoruiop (and probably others) has a kernel exploit, but no official word on a release. As for 5.50, the latest PS4 firmware, it’s confirmed again: there is no knowledge of a kernel exploit existing for that firmware at the moment.
As I’ve stated before, if you are not the lucky owner of a 4.55 PS4 or below, and are having a hard time finding one, your best option in my opinion is to buy a second PS4, and store one of your consoles on a shelf until a hack comes for it (disclaimer: this is what I did in 2016 with my – at the time – 4.01 PS4) . Owning two consoles nowadays is the only reasonable way to enjoy both hacking and regular gaming.
I currently am not in possession of a viable 5.50 kernel exploit and lack time to work on it short-term.