It is clear that the PS4 only has HDMI out. However, is the PS4 or HDMI encryption and communication protocol going to restrict connecting and using the PS4 through an HDMI capable amplifier which in turn can connect to an SD TV via component video? If you hook up an Apple TV that way you get audio but no video. It is certainly fair to not include the extra output hardware at this point, but the information about this common type of hook up should be more available or clearer. The specs support 480P but that does not mean that the video will not be blocked.
if he had 1 hdmi he would go to the reciever than the tv. sounds like he only has component on the tv. and for that im not sure. does your reciever only do 480 p thru component? seems like the only concern is the limitations your reciever has out thru component. wish i could help more. maybe if you give the model number some1 can find it. dont think the ps4 would have anything to do with the signal after the reciever gest the signal or could it be hdcp problem?