The motion blur toggle is working on the PS4, however when you save the setting to switch it on its fine, but when you come to restart the game, the motion blur is switched off, so the setting is not being saved.
This was a problem back in TSW2 as well. They've confirmed plans to make it permanent are in the works but not a date for it.
Experienced that as well on my PS4. Plus the settings for my 'dot' are being reset every time (normally I've got it on 50% transparency) it keeps resetting to 100%. The other settings seems to kept saved.