I've been having the same issue on PC. (in fact, it just did it again for me about 5 minutes ago) And in my search to solve it, I've seen that this has been happening on all platforms as far back as October of 2017.
I know this is of no help to you to solve your problem. But maybe by bringing this to light, other people can see that Bungie needs to fix their game.
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It's been happening to me too on PC, have another thread with 3 people that claim the same
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Good to know I’m not alone but sorry to hear it got you too. At least now I can stop messing with my ps4 trying to fix it. Seems like a pretty serious server-side issue that bungie could address...
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Yeah. Search on twitter for "problem reading game content" and bungiehelp. You'll find posts from people on all platforms having this issue as far back as October 2017. I've run all the tests on my PC. I've got a 3.4Ghz quad-core (i7-6700), 16 GB RAM, and a 512 GB NVMe (pci-e x4) SSD. If this game has problems reading game content, it's because of badly written code.
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Any interested party, please see this thread where Bungie has replied: https://www.bungie.net/en/Forums/Post/252957989?sort=0&page=0 Please help them realize that this is a universal D2 issue and is not ps4-specific by sharing your experience!