How to turn image into vector grafic?

A way to avoid the problem JJ mentioned is to go to Image > Mode, and change to Indexed Color, with just a few colors (8 or less), using Local Perceptual. Then change back to RGB mode.

There is too much fine detail is a raster picture image. If you vectorised it the vector files would not really be useful if it could be done Within  Photoshop 8,000 layer limit. You would not want to edit a photoshop image document made with 8,000 shape layers.  If you have a simplify image like clip art you could use Illustrator trace or for free, use website Photopea and save a vectorized PSD file to you machine. Even simple clip art will require many shape layers.

You'd do that in Illustrator, if what you really need is a vector. But why do you need a vector? There are endless effects you can do in Photoshop. Can you give us a link to the sort of effect you want?