Coinciding with the announcement that Grand Theft Auto V on PlayStation 4, Xbox One, and PC will include a First-Person mode, Rockstar confirmed on their website that the game will run at 30fps/1080p on PS4 and Xbox One:

Alongside the new First-Person mode, Grand Theft Auto V for PlayStation 4, Xbox One and PC features hundreds of additions and enhancements including 1080p resolution at 30fps on PS4 and Xbox One (4K compatible on PC).

Rockstar also provided a few more details about the First-Person mode, including how it is available in both Story Mode and Grand Theft Auto Online. To accommodate first-person, an optional cover system, new targeting system, more traditional FPS control scheme, and new animations were added to the existing game. You’ll also be able to switch back and forth between first-person and third-person easily with the “touch of a button.”

Grand Theft Auto V releases on November 18 for the PlayStation 4 and Xbox One.

[Source: Rockstar Games, PS Blog]