Q: Does the Processor Unit support 4K and HDR pass through?
The PS VR Processor Unit (PU) supports video pass through so that you can enjoy regular non-VR content on your TV when you have the PS4 connected to the TV via the PU and the PU is connected to power via the AC adapter and the PS VR headset is not in use. This pass through support works for regular 1080p signals and also supports 2160p (UHD or ‘4K’) content in YUV 420 color format at up to 60 Hz from a PlayStation Pro.
However, HDR signals are not supported for pass through by the PU. This applies to both 1080p and 2160p HDR. If you have a HDR capable TV and want to view PS4 content in HDR, it is necessary to cable the PS4 directly to the TV.
*fixed link*
http://blog.us.playstation.com/2016/10/03/playstation-vr-the-ultimate-faq/
not entirely sure of the implications of this, but people over at neogaf seem pretty pissed about it.
(copy and pasted from neogaf)