"Rendering" is done client-side, is entirely hardware dependent, and has nothing to do with network latency in this context. SE cannot make a user's hardware faster -whether PC or console. FFXIV is already a very well optimized game, but it's still unrealistic to expect smooth framerates in world hunts with dozens of other players onscreen, especially on a PS4.
As for "general latency problems," have you pinged and run a traceroute to your datacenter's IP? Dropped packets can cause many problems.
Datacenter hosts/IPs:
- Aether: neolobby02.ffxiv.com [204.2.229.9]
- Primal: neolobby04.ffxiv.com [204.2.229.10]
- Crystal: neolobby08.ffxiv.com [204.2.229.11]