Surprisingly, replacing hardware fixed my issue. It doesn't make any sense to me that an issue introduced from a software update would be fixed with hardware, but it worked.
The technician replaced the main board and the wifi card.
It came with version 8.0.0. I assumed that it would break again after it upgraded, but it didn't. Tested it without setting up wifi and PS4 displayed fine. Added the network and it automatically upgraded to version 9.2.0. PS4 still works. I have HDCP and HDMI link enabled.
Although this was frustrating to deal with and took a long time to get fixed, TCL still handled it well. They paid to have the repair done at my house, even though I was past my warranty. I suggest anyone with this issue to return it if it's new, or contact TCL directly to get it fixed.