To me this sounds like an overheating problem. I'd check to see if the ventilation is being blocked by anything. Without the error code, it's hard to pin-point the exact problem though.
Not a PSVR owner, but from what I've read, you already got the best of the best. It was recently reported that Sony is increasing PSVR production due to popularity of the system and experience. Something something 200+ games in development.
The error code is CE-348780. Something to do with game applications, I believe.