Recurrence for quaternary search algorithm
Your recurrence is wrong, which is why you get the wrong answer. I suspect that the reason your recurrence is wrong is that you don't quite understand the algorithm. Try mimicking your reasoning on binary search until you successfully get the correct running time in that case.

Moreover, as mentioned in the comments, the running time (assuming constant-time comparisons and the RAM machine model) is $\Theta(\log n)$, but cannot get more accurate than that. To get $\log_4 n$ you need to count something more specific, such as the number of comparisons performed by the algorithm.