If whilst on 5.05 or below you have ever run Update Blocker payload: you must use Update Unblocker first or FTP into your PS4 (port 1337) and delete the and the PS4UPDATE.PUP folders in the /update folder.If you have a PS4 above 5.50FW you should aim to update to the next closest firmware that supports jailbreaking: 6.72/7.02/7.55, or lastly 9.00.
If you have a PS4 console running 5.01 or lower, follow the below section to upgrade to 5.05 via USB.