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Specter released his kernel exploit for firmware 5.05 according to people and later confirmed by Specter the exploit also works for 5.07.
You can use this link to exploit your console
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Github link for the source
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5.05 PUPs
A few notes by Specter about the exploit.
1) The page will crash after the kernel exploit successfully runs, this is normal
2) First load after successful exploitation will autoload HEN and Mira (can get klog by nc [ps4 ip] 999
3) Subsequent loads go to the usual payload launcher.
Show your gratitude to the developers who have achieved so much so far and thank them for all their hard work.
Hacker Qwertuiop is hosting the exploit on crack.bargains. This is the easiest step, but it does require the console to connect to the internet. Therefore I recommend to not use this if possible.
Open the browser
Open the URL:
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Click OK when the message 'We have updated our privacy policy in accordance with GDPR...' appearce
Minimize the browser by pressing the PS Button
Profit