Chosen Solution

I was powering on my PS4 the other day and it (or I suppose it may have been the TV) made a very loud pop but then continued to turn on and work like nothing had happened. I restarted it and it still seemed fine and both the TV and PS4 still seem to work fine. Based on what I saw online already it seems like the noise was probably a capacitor blowing in the psu. I had an oil space heater running with a thermostat that shuts it off periodically so was thinking it shutting off might have caused a power surge and led to it blowing a capacitor. I was wondering if I could cause further damage to other components of the console if I continue using it. Should I open it up and check if a capacitor appears blown in the power supply and if so should I replace it or am I fine to just keep using the PS4 for now?

It has been my experiance, an electrolitic blew, yes you should open it up. Good luck, Robert Update (12/29/2020) Electrolitic caps are the only component capable of making a loud explosion, and still have the circuit function. Usually enough capacitance is available to keep the power supply running. When the cap blows, they always open circuit. The larger ones really make a mess! I have seen it many times.