I understand that this is already being addressed through updates(VPS)?
It's being addressed by VPS. Although, we must expect further improvements on version 5.
Is there a new version on the horizon?
Yes. Version 5 is being baked to early next year.
Until there, there will be minor improvements on version 4.7.
If so,I'd like to be a beta tester.
Beta phase is released to forum users only, like you. Welcome.