The PS4 version is the equivalent of the PC with all settings on high. It has a stable performance(mostly), but it still has a few glitches that may be glaring to you when experiencing it.
If you would like a more stable, updated version, then the PC is the way to go. However, you can get the PS4 version if your computer isn't superb enough to process Terraria effectively, then PS4 may suit your fancy.
If I were you, I'd get the PC version. It controls a lot smoother, has less glitches and stability problems, and it has more content(PC is 1.3.5, Console is only 1.3.0.7). But you can get the console version if you want, it isn't too unplayable as it once was and I can find some enjoyment out of it. Just know that it is still being worked on for stability fixes and just acknowledge that you may encounter a problem or two in your Terraria experience on console. (It wasn't as bad as it was a few months ago, but there are still some safescreen and "invisibility problems" running wild, just to name a few.)