Since the update to 5.50, my roomate's PS4 had issues with the controller, and today it's asking for a USB device with the 5.50 update.
I've formatted a usb stick as FAT32, then created PS4 > UPDATE folders. I've downloaded the update file twice, and placed it in that folder as "PS4UPDATE.PUP" and 4 different times (2 for update, and 2 for initiaize) I've gotten this error.
This is a serious issue resulting in the PS4 being completely useless, until it is resolved. Any help would be greatly appreciated.