Premiere Elements 11 won't launch

I just got a new laptop and i'm trying to install all my old software, including Adobe Premiere Elements 11. I know it's an older version, but so far I never had any problems with it. Photoshop Elements also runs with no issues. But Premiere won't launch. The splash screen comes up and after a few seconds it just closes again. Nothing happens.

I looked online and I read I should adjust the "DebugDatabase.txt" file in the AppData\Roaming\Adobe\Premiere Elements\11.0 directory, but there is no such file to be found... (Also adding the file manually did not change anything.)

My new machine is a Asus TUF Gaming A17 with an AMD Ryzen 9 processor, 16 GB RAM and a GTX 1660 Ti. I have DirectX 12 installed.

I'd be very grateful for any ideas. Thank you