How to convert any video to PS4 with best video and audio encoder using FFMPEG (free) for linux, mac and windows:

1. Download ffmpeg depending of OS from linux, mac or windows
   
2. Define original video file dimension, called D (if it's in MB * 8192 = Kb), and video time in second, called T.
   
3. Calculate original video BitRate, called BR, BR = D /T  kb/s
   
4. Define Audio BitRate that you want, called AR.
   
5. Calculate desiderable converted BitRate,called CBR, CBR = BR - AR
   
6. I calculated for my video that CBR was 2980 Kb/s. This parameter, you can find in below command example that works fine.
   
7. For linux and mac change NULL in below command with /dev/null
   
8. Convert in one pass to :
   
   Video: H264  MPEG-4 AVC High Profile Level 4.2
   Audio: AAC LC
   
   ffmpeg -y -i "Video-to-convert.avi" -c:v libx264 -profile:v high -level:v 4.2 -preset medium -b:v 2980k -pass 1 -c:a aac -b:a 128k -f mp4 "Video-converted.mp4"
   
   If you want a mkv for PS4 recover a 2% of conversion time:
   
   ffmpeg -y -i "Video-to-convert.avi" -c:v libx264 -profile:v high -level:v 4.2 -preset medium -b:v 2980k -pass 1 -c:a aac -b:a 128k -f matroska "Video-converted.mkv"
   
9. If you are a maniac converter you can pass more time with the converter to reduce dimension of converted file:
   
   ffmpeg -y -i "Video-to-convert.avi" -c:v libx264 -profile:v high -level:v 4.2 -preset medium -b:v 2980k -pass 1 -c:a aac -b:a 128k -f mp4 NULL && ffmpeg -i NULL -c:v libx264 -profile:v high -level:v 4.2 -preset medium -b:v 2980k -pass 2 -c:a aac -b:a 128k "Video-converted.mp4"
   
   If you want an mkv file for PS4 recover a 4% of conversion time on two pass encoder:
   
   ffmpeg -y -i "Video-to-convert.avi" -c:v libx264 -profile:v high -level:v 4.2 -preset medium -b:v 2980k -pass 1 -c:a aac -b:a 128k -f matroska NULL && ffmpeg -i NULL -c:v libx264 -profile:v high -level:v 4.2 -preset medium -b:v 2980k -pass 2 -c:a aac -b:a 128k "Video-converted.mkv"
   

P.S. Remember that PS4 to play a video in a usb drive or usb key need to save in a directory and format in FAT32 where the maximum file size is 4GB or exFAT where the maximum file size is 16 GB

PS1 Remember that if you want to get smaller file size video, you have to reduce bitrate but you will also get worse videos than the original.

PS2 Remember that never a converter can't get a better converted video than the original video.