What version of Photoshop Elements will run on the Monterey OS

Photoshop Elements 2023 is on sale from Adobe for about $70, so unless you have some compelling reason to want an older version it seems better to just get the most current version.

https://www.adobe.com/products/photoshop-elements/buy-elements.html

Actually maybe only a couple of versions back might work, since starting with macOS Catalina 10.15 Apple depreciated 32 bit applications and even though photoshop elements has been 64 bit since pse 12 on the Mac side, many of the included components are 32 bit on versions 2019 and older like the installers and thus won't install on Monterey.

https://helpx.adobe.com/photoshop-elements/kb/elements-mac-64bit-compatibility.html

In light of the above the current pse 2023 is your best choice for compatibility and security fixes.

The current Photoshop Elements 2023 works on macOS Monterey 12.4 and later.

https://helpx.adobe.com/photoshop-elements/system-requirements.html