After some negotiation, Bethesda and Sony have come to an agreement regarding the release of Mods on the PS4.
The point of contention was Sony blocking user created assets such as art and character designs from being uploaded to the system. Bethesda appears to have accepted this condition.
Mods are a sought after feature because by allowing users to create their own content, the game’s lifespan increases.
More information can be found here.