Chosen Solution
I purchased a 4K HDR Sony XBR television. I hooked up my X Box One S to it and it runs 4K HDR content without a problem. My PS4 Pro only runs 2160P YUV resolution and when HDR is turned on, there are scattered blinking dots throughout the screen. I still play games but my God this is annoying. I have tried new cables, new firmware on all devices, rebooting it etc. The dots disappear when I select 1080P resolution but I didn’t buy a PS4 Pro or a new TV to game in 1080P resolution. Is this a problem with the PS4? If so it is a software problem or does it need to be repaired?
If it’s a cheap tv, there’s your answer. Buy one that costs a good amount of money. It’ll (probably) be higher quality.
Wanted to leave this up here in case anyone with the same problem googles their way here. Check if you have the right HDMI cable (see hardware requirements for 4K & HDR) and correct TV settings. If everything is OK, you may need to check your hardware of the console.