Non-Hermitian systems with parity-time ($mathcal{PT}$) symmetry give rise to exceptional points (EPs) with exceptional properties that arise due to the coalescence of eigenvectors. Such systems have been extensively explored in the classical domain, where second or higher order EPs have been proposed or realized. In contrast, quantum information studies of $mathcal{PT}$-symmetric systems have been confined to systems with a two-dimensional Hilbert space. Here by using a single-photon interferometry setup, we simulate quantum dynamics of a four-dimensional $mathcal{PT}$-symmetric system across a fourth-order exceptional point. By tracking the coherent, non-unitary evolution of the density matrix of the system in $mathcal{PT}$-symmetry unbroken and broken regions, we observe the entropy dynamics for both the entire system, and the gain and loss subsystems. Our setup is scalable to the higher-dimensional $mathcal{PT}$-symmetric systems, and our results point towards the rich dynamics and critical properties.