Last month, at the Consumer Electronics Show (reported by The Huffington Post), Netflix's Chief Product Officer Neil Hunt suggested that Sony had "promised" a PS4 hardware update that would enable 4K support for video-output. Forbes has since reached out to Netflix, that were naturally a bit more cautious commenting on the matter.
They did add that what Neil Hunt meant was that he believes new versions of the consoles will be launched on the two year anniversary mark (November), ready to support 4K video playback. Forbes also contacted Sony and Microsoft, but both declined to confirm Hunt's predictions.
4K resolution for games seems out of the question for both consoles, but an upgraded version of the PS4 and Xbox One that could support Ultra-HD video seems not only likely, but inevitable. The months following up to the E3 could bring clarity on the matter.