Get a powered one with enough ports that you need. Ps4 and some other systems will cycle the display input off and on if its not powered. They are mass produced and crappy/bad ones go out and people don't test out all the ports when they get them. And the life span of them is all over the place. It might work great for years or crap out in a month.
For latency your monitor/tv is the biggest to blame for that. Adding a millisecond or two you shouldn't notice unless your tv latency is high.
You can buy an expensive one but a lot of the ones that they sell on Amazon that are powered will work fine for you.
I own this one and it works fine for me with my ps4, 360, and rasberry pi hooked to it.