The current generation of Playstation 4 requires a 1080p TV.
A low input lag value is the time elapsing from the moment the signal is transmitted from the set-top box to the TV, until it is actually displayed on the screen. Between these stages, the TV can process the frame - color correction, completing the "missing" frames to make it smooth, and other possible "enhancers" - their work takes time that passes imperceptibly when you watch a movie. But when you press the buttons on the controller, and the game character responds with a delay, this indicator becomes very critical.
Slow sensor response time - so that moving objects are not blurred. However, often accelerated matrices with low response times can produce artifacts, so this is a double-edged sword. Read the tests and look for the best option.
If you plan to play with a large company, consider the viewing angle of the TV, and not formal, but actual. It is desirable that there are no color / contrast / brightness / drop in shadows when viewed from a slight angle. Manufacturers often formally specify a 180-degree viewing angle, but such extreme values are just not important - no one in their right mind would look at that angle due to perspective distortion, it's like putting your phone on a table and lowering your eyes to its level.
Basically it's 1080p.
That's all. No more parameters. But according to rumors, Playstation 4.5 will be presented in the summer. An updated version with support for 4K images. So, if you have not yet taken PS4, then wait for the summer. It would be better to buy an updated version. Well, or at least the price will be 4 lower.
Here's another summary. If interested: