Here is what one of the players had to say on the official Rockstar Support website:
Can’t Download Update
I just installed GTA5 on my PS4 and played the story mode for few minutes.
After that i wanted to try the GTA Online mode but it said i need to dowload the update from PSN. Then the notification popped up and said can’t download the GTA V update. It stoppes every few second while downloading and have start over…
I restarted the ps4 and still same.
Other issues reported had to do with transferring old characters into the new versions.
The fix is currently in the works for PlayStation 4 and the Xbox One fix should arrive tomorrow.
Those who are experiencing the error code “CE-32937-4” when downloading the day-one patch should try downloading the update later. Rockstar said it may be a “regional issue”.
“We are currently addressing this issue with a patch for PlayStation 4 and PlayStation 3 users,” said the developer on its support site. “This patch is available for download, but may not be available in your region for the next few hours. If you attempt to download the patch and see a ‘CE-32937-4′ error, please attempt to download the patch again later today.
“This issue will be addressed for Xbox One and Xbox 360 users by tomorrow. Affected PlayStation 4 and Xbox One players can still log in to Grand Theft Auto Online but will not be able to transfer characters until the fix is in place.”
We’ll keep you posted as the developer updates us.
Source: Official Website