We study surfaces with parallel normalized mean curvature vector field in Euclidean or Minkowski 4-space. On any such surface we introduce special isothermal parameters (canonical parameters) and describe these surfaces in terms of three invariant functions. We prove that any surface with parallel normalized mean curvature vector field parametrized by canonical parameters is determined uniquely up to a motion in Euclidean (or Minkowski) space by the three invariant functions satisfying a system of three partial differential equations. We find examples of surfaces with parallel normalized mean curvature vector field and solutions to the corresponding systems of PDEs in Euclidean or Minkowski space in the class of the meridian surfaces.