PlayStation offers several parental controls where you can set monthly spending limits, restrict access to Network Features, adjust rating levels for games and videos, disable the use of Web Browser and Playstation VR, and enable web filter. Additionally, Playstation parental controls work alongside Family Management and Play Time controls designed to keep even the youngest players safe.
To access PlayStations's parental controls:
Choose Settings and then select Parental Controls/Family Management
Select Family Management
Choose the feature you would like to set parameters for first.
For additional information about setting up Parental Controls on the PlayStation check out the PlayStation help library here.
Common Sense Media also has a great guide for setting up Parental Controls.