While ".exe" auto-downgraders are fake, these are actual community-recognized tools for homebrew and patching: RewindPS4 (GitHub)
: Files named PS4 Downgrade Tool v1.00.exe are almost always phishing attempts or viruses designed to steal your data. ps4 tool downgrade v100 exe download work
If your PS4 is on , you currently have no public exploit, and you cannot downgrade . Your only option is to wait for a potential exploit (unlikely for higher firmwares soon) or sell the console and buy one with lower firmware. While "
How to Revert the PS4 to a Previous Firmware (Full Tutorial) 9 Sept 2023 — How to Revert the PS4 to a Previous
Starting with the PS4’s second hardware revision, Sony introduced efuses (electronic fuses) inside the system-on-chip. Each time you update the firmware officially, a fuse is blown. The bootloader checks the fuse count against the firmware version. If the fuse count is higher than what the older firmware expects, the console refuses to boot. You cannot reverse blown fuses.