Ae 21 vs Ae 22 Huh?

I seriously doubt this has anything to do with the computer but it's a Windows 10 pro (21H2) with 32gb RAM, Nvidia GTX1070 8gb RAM.

Today I created a layered .psd in PS 22, with the intent of importing to After Effects so I can animate the layers, done it many, many times. Photoshop's abilities are not up to what I needed to do.

As, all of a sudden, AE 22 has been opening up without crashing/stalling, I thought I'll use the latest and greatest AE version to animate the psd. FAIL!

AE 22 opened and I selected "New Project", Import file, navigate to the .psd after waiting about five minutes I noticed the program was "Not Responding". I tried again. Here I will admit the first attempt was with PRpro open, so I closed PRpro before trying again.

Same result.

GRRRRRR

Ok, I said, let's try AE 21 nothing else changed.  PRpro was still closed.

AHA! New project, import file... the .psd was imported and a new composition with attendant layers was created!

So the question is, what is the point of releasing new versions...

BTW I ran the updates a couple of days ago, which seemed to solve the previous problem of both versions not even starting unless run under the Admin account.

...if  the simple task of importing a 21mb .psd cannot be accomplished by the latest and greatest, yet the same exact file can be imported in the previous version? 

This is a prime example of why it is important to NOT remove the previous version when updating to the latest, something that has been mentioned here (in this forum) more times than I care to count.