Lack of built in HDR support is frustrating, but not the end of the world. You have options.
You might be one of the lucky folks who managed to snag a PlayStation VR when they were released back in October. That means that you might have also realized that while you have access to an HDR television, PlayStation VR doesn't support it right now. That's because the processing unit that runs your shiny new VR system works as an HDMI splitter.
While it's pesky to get around, you can still ensure that when you're playing normal games on your PlayStation 4 you can play them in HDR.
While having access to HDR isn't a deal breaker for many people right now, as more people pick up HDR enabled televisions, it's going to be a question that crops up more as we move forward. Your first option is just to unplug the HDMI from the processing unit and plug it back into the back of your PlayStation 4 system.
Now this basically puts you back to square one. It means that every time you want to switch between playing a game in VR, and playing a normal game, you'll have to unplug or plug back in specific cords. It's not an ideal solution, but if you are looking for the easiest and cheapest choice, this is definitely it. That does mean you may end up running into a USB error down the line, but it doesn't involve any extra pieces of equipment. For casual users, or those that aren't overly concerned with being able to play in HDR, this is certainly your best bet.
Invest in a splitter box
There is a second option though. You can make the choice to go ahead and invest in a splitter box. This will allow you to eliminate the process of having to unplug cords everytime you decide to switch up what type of game you want to play. It gives you a significant amount of freedom that most people prefer, rather than having to tweak their console each time they play.
While this is the more convenient option in the long run, it does require extra steps at the onset. You'll need both an HDR splitter and a basic knowledge of how it works. By using the splitter you can bypass the cut off from the processor unit. This means that you'll be able to access HDR when you are playing normal games and not have to worry about constantly dealing with cable management.
For now these are the only two options that are available to you if you want to enjoy HDR while you have a PlayStation VR. For many people this isn't a problem yet, but it may crop up in the near future.