What is Reddit's opinion of StarTech.com Hot-Swap Hard Drive Docking Station for 2.5"/3.5" SATA III Hard Drives - External eSATA/USB 3.0 Hard Drive Dock w/ UASP (SDOCKU33EF) , Black?
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By popularity on Reddit, this product is:

#359 in Computer Hard Drive Enclosures

#332 in Enclosures

I have not seen that particular adapter, but it looks like it has been designed for 2.5" drives that work on 5v which is supplied via the USB port. But 3.5" hard drives like yours need a 12v supply, so the drive will not spin up with the 5v supply from your laptop. You need something like this which plugs into a power outlet. https://www.amazon.com/StarTech-com-External-docking-station-drives/dp/B00U8KSLA8/ref=sr\_1\_5?keywords=startech%2Bsata%2Busb%2Bdocking%2Bstation&qid=1639666745&sr=8-5&th=1

I'm going to go with:

Pros:

Can use both 3.5" and 2.5" drives
Drives will be outside of the PS4 which will hopefully reduce internal heat
Swapping drives will be easy so I can get an SSD, install my most played games on it while having another SSHD or something to hold other games

No idea if this will work but...

If you want the cover plate to fit, you'll need to either custom 3D print a new plate or dremel/drill a hole on the original one.

< $50

$50 - $100

< $50