Playstation Users Around the World Experiencing the Same Issue
If you were doing something on your Playstation and got the error CE-42739-5, don’t panic! Although it is bothersome to lose access to some of the PSN features and your own games, nothing is wrong on your end. It is currently believed that something over on the server-side is causing these hiccups.
There is an active discussion on Reddit if you’d like some live updates or join in on the discussion. The main things being affected are some licensing information tied to the accounts. Users are reporting losing access to subscriptions for PlayStation Plus, PS Now, and purchases. Further, any thing linking to an outside accounts seems to be affected, such as Epic Games for Fortnite, and EA Access.
Sony has yet to make any sort of official statement as of publishing this article. Since this error has just started to be discussed today, they are probably scrambling to try to figure out what is going on. Hopefully, it doesn’t take long. You can check their twitter page to see if any updates have been made.
Source: mp1st