Agh... I just saw this video on a forum I frequent. It's from the new Skyrim VR for Playstation VR.
There's no process, it's pretty much a poof
(although from the audio I gather the player character is female) but it looks like so much fun to be able to embody a werewolf once the transformation is complete.
https://www.youtube.com/watch?v=0Dd8ZrRO6ZI
Thought I'd share with you guys. I might need to buy this just to experience this...