I have the same problem on PC. I thought it was because the game forced me to update graphics drivers (it wouldn't let me launch the application and gave a graphics driver version error.) Since you are on Playstation and having the same problem there must be something else happening in this patch.
When I join a game my character spawns but I have a black screen for about 10 seconds, if I joined a game that has already started my character usually dies before any graphics are drawn. If I don't die during that time, the terrain and character will become visible but I won't be able to walk. It might draw a frame once every second or 2. As the game progresses the lag is lessened and my character will be able to walk immediately after a respawn, but the gameplay is very skippy. I am not running a fps counter but it couldn't be more than 10-15 fps with all of my graphics settings on low.
I used to be able to run high settings without any issues other than the server stutter bugs that everybody else experiences.