After years of PlayStation owners being unable to change their PSN names, Sony has officially announced that they will soon be testing the PSN Online ID Change feature beta to allow users around the world to finally change their IDs. The feature is first going to appear in the PlayStation Preview Program as part of a beta, which will run until November 2018 ends. However, only users who've registered for previous system software betas will be eligible. Changing your PSN name is compatible with games published after April 1, 2018, as well as some of PS4's "most-played" titles to date.
During the preview program, users will be able to change their online ID multiple times. Once you decide to display your old ID or not, you won't be able to adjust this after completing the online ID change process. Any name changes after that will cost you $10 a pop.
The PSN name change feature will go live "early next". For PlayStation Plus members, it will cost $4.99 USD/ CAD after the first change. The Nintendo Switch doesn't let you change your base Nintendo Account username, but it does make it easy (and free) to change the "nickname" that appears to other players online. Reverting back to an old ID will resolve most issues caused by the ID change. This should solve "most" issues.
To make the change from xxxSniperJoe420xxx to "MyWifeIsMyLife2012" you'll merely need to head to the settings menu or profile section of the PS4. It doesn't sound like you'll get your money back if you paid for the name change, though. Sony will provide a list of supported ID change games (again, this is weird that it doesn't just work universally, and a glimpse into Sony's odd infrastructure). Still, a list of compatible games will be available on the PlayStation site, so hopefully users will soon know which games to avoid. There'll be a short wait after that, with the feature set to officially roll out for all users sometime in early 2019.