Windows 10 Update results in .jpeg parsing error

Yesterday Windows 10 was upgraded over several hours. After rebooting three times and opening Photoshop Elements 14 four times, I am unable to load any pictures stored on my computer.

PS Elements loads normally, but any attempt to load pictures generates an error that the file cannot be loaded due to a parsing error. I tried several different photo file folders, all erroring out.

Has anyone else encountered this situation, and if so, how did you resolve it?