While many were complaining, I took the proverbial bull by the horns and attempted to find a solution for this matter. Here's what I did;
  1. Go into your Game Data Utility and delete the SOCOM 4 game data. DO NOT DELETE THE SAVE DATA.
  2. Reinstall the game. It will prompt you to install version 1.05. Click "Yes", and allow it to download the patch.
  3. Wait! The game will install three update patches in the following sizes; 447mbs., 28mbs., 58mbs., and finally 127mbs. Do not quit out of the game and go back to the XMB. This is most likely what will corrupt the update
  4. Allow the updates to completely reinstall.
  5. Enjoy your game!
It seemed to work for me. Give it a try and check back to see if it worked for you as well.
Version 1.05 not updating, try the following. | PlayStation� Community Forums