How do I get a new grid of 4 item shortcuts to set magic and ninja skills to open slots?

Are you talking about item shortcuts? It's in the options menu, under game settings I think. If it's not there just check each category until you do find it.

Yes, item shortcuts. I remember from the first game it took a skillpoint to unlock it, just cant seem to find it anywhere

I found it. It's under Menu Settings. 1st page, 3rd option from the top. You can have between 2 and 4 shortcut sections.

I feel like they have missed a trick here. I would prefer, holding up on the dpad, then X, triangle, 0, square for set one. Holding right on the dpad, then x, triange, 0, square for set two. Set three and four, left and down on the dpad. Then you can access anything with just two presses.. it can be a bit of a pain finding the right shortcut selection while in combat