In the specifications Adobe says that HEVC (H.265) is only supported on Apple computers with current opperating systems. That's because Apple provides the codec. Microsoft does not. So, HEVC footage from an iPhone is NOT editable in Premiere Elements on Windows machines.
There are three alternate choices.
First you can set your phone to shoot H.264 footage. The quality is the same,but the files are larger.
Second, you can process the HEVC files through the (free) Handbrake program to H.264 files. Image quality will be retained.
Third, you can buy a different editing program. Cyberlink advertises that Power Director can process H.265.