Young Horses confirmed on Reddit that Octodad: Dadliest Catch is currently in certification and that unless something goes "horribly wrong" it will be out this month on PS4. It will not, however, be part of the PS Plus "Instant Game Collection", and will sell for the equivalent of the Steam price.
Young Horses went on to recommend using PlayStation Move with the game: "We also support Move. The best configuration I believe is Move + Nav. Dual Moves is fun, though can be a bit chaotic. Single Move is doable, but can be strenuous. You can use these in co-op mode as well."