Elements cannot use the photos stored in the OneDrive Cloud. It can only use the files stored on a local hard drive (or the Elements Cloud). I have never used OneDrive local folders to store my photos but I assume it will work. If it does, you will also have to store the Elements Catalog folder on OneDrive. Otherwise, changes made on one computer will not appear on the other.
However, even if it is possible, in my opinion, the better solution is to use a shared external drive between the two computers.
The shared drive must have both the media files and the catalog folder. It must also be set up to have the same drive letter on each computer.
In general, the easiest way to do this is to backup your original catalog and restore it to the external drive.
Depending on the restore options you choose, you will probably end up with the catalog folder located under the folder that you chose to restore the backup to. I recommend moving it out of that media folder to anywhere else on the external drive.
Make sure that the external drive is given the same drive letter on both computers.
Using each computer, search for/browse to the following file on the external drive: catalog.pseXXdb. Substitute XX for the version number of your program. For Elements 2024, the name will be catalog.pse24db. Be careful with earlier versions, since although the version numbers from Elements 16 to 21 continue in sequential order, the marketing names run from Elements 2018 to Elements 2023. Starting with Elements 2024, the numbers represent the last two numbers of the year.
Double-click on the db file and the catalog will open in the Organizer.
For further details about backing up and restoring a catalog, see this HelpX article.
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