The metamagic adept feat says:
You've learned how to exert your will on your spells to alter how they function:
"You can never have more sorcery points than shown on the table for your level."
My understanding of these rules would indicate that a sorcerer who takes the metamagic adept is capped by the number of SPs shown on his class. So a 4th level sorcerer who takes this feat gets two more metamagic options but still has a maximum of 4 sorcery points at any time. So if he takes this feat he still only gets 4 SPs after a long rest at 4th level.
I think this is pretty clear as far as RAW. RAI I am not so sure.
You've learned how to exert your will on your spells to alter how they function:
- You learn two Metamagic options of your choice from the sorcerer class. You can use only one Metamagic option on a spell when you cast it, unless the option says otherwise. Whenever you reach a level that grants the Ability Score Improvement feature, you can replace one of these Metamagic options with another one from the sorcerer class.
- You gain 2 sorcery points to spend on Metamagic (these points are added to any sorcery points you have from another source but can be used only on Metamagic). You regain all spent sorcery points when you finish a long rest.
"You can never have more sorcery points than shown on the table for your level."
My understanding of these rules would indicate that a sorcerer who takes the metamagic adept is capped by the number of SPs shown on his class. So a 4th level sorcerer who takes this feat gets two more metamagic options but still has a maximum of 4 sorcery points at any time. So if he takes this feat he still only gets 4 SPs after a long rest at 4th level.
I think this is pretty clear as far as RAW. RAI I am not so sure.