Restore catalog can't see drive

I am trying to move my Photoshop Elements 2024 from one computer to another. I have the *.tly file backed up to a removable usb drive. When I connect the drive into the new computer I can see the data in Windows Explorer (Windows 11). However, when I go to restore, Elements sees the drive but sits there with a message of "Working on it" and the files never become visisble (after over 12 hours). I have restored catalogs succesfully in the past so I don't know why there is an issue this time.

Thank you.