Saving DVD inputs in other formats

I purchased Premier Elements 12 some years ago and due to work commitments didn't have time to use it.  I have just started copying some old VHS stuff, mostly old anaglog camera stuff, onto DVD so that I can edit and save as MP4.   Not too challenging to import the DVD files into Elements, but saving as a MP3 file, which the brocure says it works with seems imposible.  I was thining of upgrading to the Premier Elements 2022 vesrion, but would rather spend my money elsewhere if it is not going to be possible to save the edited DVD video file as an MP4.  Can anyone advise if this is possible with the 2022 version please.