A:AnswerYou format the drive for what you want to use it for. I believe that the operating systems of your PS4 and iPhone are different and are not compatible when trying to use a single hard drive.
A:AnswerJack, yes if you connect this external hard drive to your PC's and put games on it you will be able to play those games as long as the external hard drive is connected to the PC of course.
A:AnswerBasically it's same thing just like any external storage portable, but you've to format before to use it and depend what system you used, PC or Mac.