It suspends the PS4 so you can charge your controllers and download games while the console isn't in use. Rest Mode arrived as part of PS4 firmware update 2.0, replacing the previous Standby function.
PS4 software update v2.01 is coming soon, Sony said on Twitter, and will tackle an ongoing issue with the recently added Rest Mode. ORIGINAL STORY: Sony is working on another update to the PlayStation 4 designed to fix a problem caused by the previous update. This content is hosted on an external platform, which will only display it if you accept targeting cookies.