I'm confused. I have the latest version of Photoshop (22.4.3) both on my Windows 10 desktop and Windows 10 laptop. One membership. On my desktop I can change the .psd file-extension in many different formats, one of then .JPEG. On my laptop I can only change the .psd file to four other options. JPEG isn't one of them. What is going wrong??
The Saving process has been changed in the latest version of Photoshop to Save as a Copy. You can change it back to the previous way in Photoshop preferences. You can get chapter and verse in this useful YouTube video: https://www.youtube.com/watch?v=5CS_oieQL7c