It is currently not clear if there will also be a Panasonic GH4R that already includes the V-Log update but the estimated shipping date for the Panasonic LUMIX GH4 V-Log update is expected to be in Mid-December, according to Panasonic store.
See below for the features and what Panasonic says about the V-log.
Panasonic LUMIX GH4 V-Log L Function Firmware Upgrade Priced for $99
V-Log L Function Features
- LUMIX GH4 function enhancement for film production/professional videographers
- Increases dynamic range from 10 stops to 12 stops
- Makes color grading easier with improved compatibility between LUMIX GH4 and Panasonic Varicam
- V-Log / V-Log L were developed to feature similar characteristic to Cineon
In response to the demand from the film production market, log video recording (V-Log L) is now available for the LUMIX GH4, and offers exceptional flexibility as well as wider dynamic range for color grading in post-production process. V-Log / V-Log L were developed to feature similar characteristics to Cineon, which is a characteristic curve for film digitalization. Taking full advantage of Four Thirds sensor, V-Log L boasts a log characteristic with 12 stops. Both V-Log and V-Log L have the same characteristic curve, and LUT (Look Up Table) can be utilized.
The Lumix GH-4 camera features 16MP Live MOS sensor and Venus Engine IX processor with an enhanced fast and accurate Auto Focus (AF) system (approximately 0.07 seconds).