Unlike the major feature-rich updates of the Vita's early years, version 3.74 is relatively lean in terms of visible changes. However, the changes it does bring are significant for account security and PSN functionality.

Standard 2-Step Verification (2FA) is now strictly enforced. Users can no longer log in using their primary account password. Instead, you must generate a temporary "Device Setup Password" through the desktop or mobile PlayStation Store Account Settings to authorize the console.

Firmware version 3.74 for the PlayStation Vita and PlayStation TV was released on . It was the first system software update for the handheld in over two and a half years, following version 3.73 which had been released back in October 2019. The update was released simultaneously with PS3 firmware version 4.89, and both updates focused primarily on PlayStation Network security enhancements rather than introducing new user-facing features.

If you are running an older official firmware version (such as 3.73) and want to update to the 3.74 system baseline, you can complete the process using three primary options: Option 1: Direct Wireless Update (Wi-Fi)