Lightroom Classic 13.2 after moving from intel 27" iMac to an M1 Max Studio problems with Watermark

I cannot get the  on M1 Max Studio itteration of Lightroom to even see the watermarks .png created in Photoshop. The Studio is running Mac OS Sonoma 14.4

How do I even open the watermark editor?

[Moved from ‘Bugs’ to ‘Discussions’ by moderator, according to forum rules. A ‘bug’ is not just another word for a software problem.]