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I normally would not suggest accepting any OTA updates prior to a phone having its bootloader unlocked or any form of hack to allow for full AOSP roms, but being that we are several months post release and it took an $20k bounty just to get root on this device it is safe to say we won't see a bootloader unlock on this device anytime soon if ever. All of that being said the most recent over the air update for the Verizon Galaxy S5 can pretty easily be rooted.
To root your device after receiving the OTA update all you have to do is flash the stock NCG kernel in ODIN, use towelroot to obtain root, and then flash the NE9 stock kernel via ODIN. Once you have rooted the device you will be able to use SafeStrap to install custom Touch Wiz based roms. Head to the link below to grab the files that you need.
Via XDA
