Yes, so I ended up just reformating the drive and rebuilding my system. Now without the case sensitive format I can use my Adobe products. Not exactly the answer I wanted, but it was the answer. Thanks!
Thank you for the update, Samuel! Please share your experience with others who may be setting up a new computer running macOS. Sometimes the computers are pre-configured with a case-sensitive file system.
Apple's Disk utility referenced in https://support.apple.com/en-us/HT210898 can verify the file system utilized and reformat the drive to a file system compatible with Adobe and other Mac applications. This process should be performed before running the Migration Assistant or applying any system updates.
For Apple Silicon computers, see https://community.adobe.com/t5/download-install-discussions/can-i-run-my-adobe-apps-on-apple-computers-that-use-the-apple-silicon-m1-chip/td-p/11623236 for other helpful tips for running Adobe apps on the new Apple processors.