Elements, NAS, and 2 Macs -- Possible?

All,

I'm revisiting an issue that I've researched on this forum and elsewhere because (1) I want to be sure that I have up-to-date information and (2) I have an idea for a work-around that I haven't seen discussed.

I'm a long-time Mac user and have built up tens of thousands of photographs in my Apple Photos library.  But I've grown frustrated with both the limitations of Apple Photos and the inability to choose to work on either my iMac or my MacBook.  I've also built up such a large library that it's becoming problematic to keep it local, even on my iMac.

I'm planning on moving my photos from my Apple Photos library to folders on my NAS corresponding to my old Photos albums.  At that point, I'd like to purchase and use Adobe Elements to manage and edit--ideally from both of my Macs.

In researching the issue, it seems that (1) it would be possible to have my photos on the NAS and manage/edit with PE but (2) it's problematic for the PE "catalog" to be on the NAS.

First, I'm not exactly sure what the "catalog" means in Adobe-speak--but it seems to mean a directory file that tracks the location of the original images, organizes them into albums for viewing from PE, and tracks changes made to the original images.  Do I have that right?

Second, is the above described problem still the case today using Photos Elements 2019?  Is it impossible to keep both the media on my NAS and the catalog on the NAS that would be referenced by a copy of Adobe Photoshop Elements 19 on two different Macs?

Finally, if that is still a problem, would it be a solution to keep the catalog file on a synchronized cloud drive, such as Microsoft OneDrive?  As I understand it, that would appear as a local file on both computers but synch via a cloud server.  I would be careful to only have PE open on one computer or the other at any given time.

Thanks for your assistance.  I'd like to purchase and use PE Elements, but before I make the leap I need to understand the limitations and possibilities.  PE would be an impossible solution for me if I couldn't a least move the media to the NAS.  And, in a perfect world, I'd really like to somehow share the catalog between both of my Macs.