I only have it on PS4, and yes there are lots of mods in the workshop. There are obviously limitations.
Every few months I try installing various mods to make what I want out of it, darker nights, flashlight mod, weapon and armour changes for a more hard core experience, etc, and end up with 15 or so mods installed.
Start a new hardcore mode, get just about past diamond city, and the game invariably starts crashing.
No idea which one or ones are causing the issue, and in the end I get annoyed and go play something else.
Bethesda made mod workshop worked on the consoles, so you could share the pc made mods.
Small setback that it didn’t support script extender, so it was quite limited. Still better than no modding tho.
To add to your answer, Skyrim also supports mods on PS4/5 and there are even a couple really useful ones. Stuff like the Unofficial Skyrim Special Edition Patch exists, for example.
