Free Step Dodge

I just use sharefactory

If you are using the built-in console recording, share factory or Xbox's editing. Another overlooked video editor is Youtube's editing. Limited but still able to clip videos and has slo-mo options etc.

www.youtube.com/editor

Though you mentioned recording, however I don't use PS4's recording. I use a capture card and Sony Vegas+Adobe AE.

I use Elgato for recording and Videopad for editing.
And everyone knows my vids are da bestest. ( ͡° ͜ʖ ͡°)