Xbox One S vs PlayStation Neo (PS4K, PS4.5): 4K HDR gaming

One thing we know for sure about the PlayStation Neo is that it will be capable of 4K gaming. PlayStation boss Andrew House effectively said as much to the Financial Times on the eve of E3. That means it will have enough graphics and processing grunt to render games in 2160p, quite possibly at 60 frames per second too.

The Xbox One S on the other hand is not capable of 4K gaming. It does upscale all video output to 4K, including games, but you don’t get anymore detail – it just takes on the upscaling duties rather than rely on your TV’s abilities.

The Microsoft machine does offer HDR (high dynamic range) gaming though. Developers can now choose to offer a great level of contrast and depth in their games, for users with TVs capable of showing them. Forza Horizon 3 a Gears of War 4 are two games coming with HDR graphics.
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https://www.pocket-lint.com/games/buyers-guides/xbox/138481-xbox-one-s-vs-ps4-pro-what-s-the-difference