Can my FFXIV account be transferedfrom old PS4 to a new PS4?

I bought my ps4 on launch day and after a few months of issues it is starting to fail. When I get a new PS4 can I transfer the account from my old ps4 to my new ps4? Or is there anything i need to do other than down load the digital copy to the new ps4 and move over the save data file?

Exactly that. As long as you use the same Playstation Network ID, you won't have any problems.

If you have activated the option "Activate as your Primary PS4" on the old PS4, you probably should deactivate it (if you can still use the old one enough to do that) and then activate it on the new PS4. It is under "Settings" then "Playstation Network/Account Management" (not FFXIV). In addition, you might also find the system and character configuration files and copy them to a USB storage device if you have one. It will save you from having to redo the Hotbar/Macro/etc. over again (once you copy them on to your new PS4 from that USB storage device).

After that, it is just a matter of re-downloading the game client which I think can be done under the "Library" section of the XMB. This will take a while, but it will get there eventually.

If you did activate the "Activate as your Primary PS4" option on the old PS4, and can't use the old PS4 to deactivate it, there may be other ways to get it done via a PSN account management web page using a web browser. https://account.sonyentertainmentnetwork.com/login.action is the URL I have for that.