Following the Patch that was released today, Voice Chat has become unusable on PS4.
When you go in, everyone’s microphones are very loud and it sounds like they are screaming into it. Attempts to fix this issue with the microphone volume sliders have not worked. Here’s my first encounter with the issue (My microphone is normal because the PS4 manually captures that) (Volume Warning): https://www.youtube.com/watch?v=Dsy7wKV318E
I’ve watched PC players and VC seems fine there. However, I’m not sure of Xbox VC.
EDIT: If you don’t already know, turn your VC Volume down to 60 to fix it.