A:AnswerHey David, this is the exact reason I bought it! And yes, you can. You just plug in the HDMI to both your PS4 and the monitor, turn both on, and you're good to go.
A:AnswerIt was on super sale and it sold out both online and at the store.
You may want to contact the local store and see if you can get it on backorder or discount if someone returns one.