If you are on firmware 5.05, you may need to install a "backport patch" before the update PKG to bypass the firmware requirement. Users on 9.00 can install the update directly.
On your PS4, navigate to Settings > Debug Settings > Game > Package Installer. Select the Base PKG first. Installation takes roughly 15-20 minutes depending on your HDD speed.
However, within the scene of "jailbroken" PS4s (typically running firmware 9.00 or lower), users can install (Fake Package) files—backups that bypass license checks. This is where the God of War 3 PS4 PKG Exclusive enters the conversation.