All the complaints in Wige's post above are valid when it comes to the current state of VR.
However, don't let it put you off. VR in it's current form is all but 6 years old. That's it. Yet when it comes to how its evolved in that time, it's come on massively and we're still in the stage where it has to find it's middle ground on what is regarded as 'standard' both in software and its hardware. Some of the aspects have already gotten there. We know that inside-out tracking is the overall best solution, and we know that wireless is the way forward for all VR. Hence the recent iteration of VR in the form of the Quest, which is just a little over 2 years old. The VR landscape is constantly evolving, and is likely to shift again.
The two headsets you mention, one is early VR, meaning that its tracking solution and hardware limitations like resolution are already outdated and a limitation, especially when it comes to its controllers. I'm talking about the PSVR here, which is now already archaic. Still, as I said before, don't let that put you off. The thing PSVR has going for it is on the side of its software. There's a lot there to still make it a viable option, and something like RE7 in VR pays for the thing alone, because as good as horror games are on a TV, they can't compete with them in VR. It's one of those things where it can even be too intense for some people to play. I couldn't do some parts of RE7 in the headset and had to progress via the TV. That's not hyperbole. Still, as good as RE7 is in VR, it's showing its age when it comes to how VR has progressed software wise. You've no physical hands, and you can't interact they way you want to, or expect to. A game like Saints and Sinners shows what's possible for VR to be, as it's made from the ground up to take advantage of what's possible, and only possible, in the VR space; and again, that only came out last year, so the games are still evolving beyond the state of what would otherwise feel like a tech demo.
So, for you, if you're looking an entry level into VR, both Quest and PSVR are decent options. If you've a PC, the Quest can be used on it. The fact that it's wireless is a huge deal, and don't be put off by the battery life, as you can play it tethered too. The cons are that it's limited in power. Games won't look as good as they would on PSVR, despite the image being more clear. The FOV (your field of view) is a tad smaller, and comfort is an issue from what I hear. Meanwhile the PSVR is comfortable to wear, has better lenses, and an OLED screen, so the image can look better contrast and colour wise, but can also be blurry due to its lower resolution. The set up is a massive pain in the balls, and has a limited tracking space due to needing a camera to be able to see you. You'll also need Move controllers, and those don't have analogue sticks, so some games suffer as a result in terms of control method.
My advice would be to see if you can get a used PSVR for cheap to try it if you've already a PS4. The PSVR2 is already confirmed and will rectify and update to the "standard" of modern VR, and might even bring it forward, so that's just around the corner.
One last thing to add as a caveat, because you're not used to VR, expect it to make you feel a bit sick the first few times you try it. This isn't a specific headset issue, it's a human anatomy one. Your brain will be tricked into thinking you're there, so when you move and your legs don't, its like having an outer body experience and it fucks with your inner ear. It can take a bit of time to adjust to, so just be aware of this. Try games where you are not moving or seated at first and go from there. In either case, despite all the flaws in current VR, you'll still be mind blown by what's possible with it.
