Obviuesly your game need to be game pad friendly, current generation consoles GPUs supports SM5.0 so there wont be material effects diffrences (or else theres something that UE4 dont support for consoles). Gameplay logic like actors and such should be unefected. Performence on consoles will be lower, so you will need to scale graphics down, UE4 got lot of rendering options, some of them are hidden in console with r. prefix, you can also set them in config, so you can scale it without changeing resources. console game should be vsync, HDMI only supports 60 or 30 or 24 Hz, consoles in game mode run only in 60 but you can half it to 30, you will need to aim for either of them you definitly will wait until you will have some seriues graphics ready so you will have something to scale againts. UE4 got unified interface for online services called OnlineSubsystem, so there will be no issue with porting that. Considering you already have licence for 1, develop in pararell with it, check if things you work for PC works on Console. Also consoles usally got gluidelines you need to follow, read them… and obey 
On PC you can implement some more complex settings and such, PC gamers like that and not to mention on PC your game need to be scalable because lot of people have diffrent PCs where on console you as developer decide how your game settings runs the best as you know on which spec game will run. Im not licenced console developer so there might be more things
Hi! I’ve been working on my game for a few months, and today the question struck: “what if 1/2 of the stuff I’m doing won’t work on consoles, or won’t look the same”?
So, basically, what I’m asking is if there’s anything I should keep in mind? For instance, what can I do that works on PC and not consoles? Any performance issues? Particle tips? That kind of thing. I’m developing for the big 3: PC, Xbox, and PS4. I already have one of the licenses and am working on gaining the other one.
Thank you!
Ah alright, thanks for the insight 
hey paragon , I am currently in the same boat as you, fast forward 2 years now, and am wondering if you can help us out with some feedback as to what where the main challenges of developing a ue4 game for playstation 4? and what would be some guidelines you recommend? I am currently getting the licensing for ps4…
Hey Guys Just been reading your thread. I have a question in regards to all this. What about buying the assets from the marketplace, will these assets (whether it be animation, blueprints, SFX etc) be compatible with consoles like ps4, Xbox and the Switch?