Camera Raw error message when transferring to Photoshop

After completing the last software updates, including the latest Camera Raw, I get an error message every time I try to transfer a file from Lightroom to Photoshop for editing.

It tells me that I need to update my Camera Raw settings in Photoshop even though everything is running the latest version.

Any idea on how to get around this? Do I really need to do something or is this just another bogus Adobe warning message?