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I installed PremiereElements_2023_LS31_win64 to get the Video Editor and was using Elements 2021. Since that install of PremierElements my Photoshop Elements 2021 photo editor exhibits strange behavior. For example photos in Layers panel show complete transparenct and slider does not change it. If I make a change and use Alt-Shift-Control-E to consolidate the layers into a new image the image in Layers Panel is total transparent. If I save the file and reload it the Layers Panel now shows photo. But if I make a change the Layer goes transparent. I have been using Elements for years and never seen this problem. So is there some inhererent incompatibility between the two versions
PremiereElements_2023_LS31_win64 and Photoshop Elements 2021
By the way my Elements 13 still works just fine so there seems to be a problem here!!
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We have seen a couple of reports like this. I don't think it has anything to do with your installation of Premiere Elements. I believe it is more of a graphics card issue. Do you have more than one GPU on your computer? If so, disable the integrated Intel GPU. Otherwise, try updating your graphics card driver.
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Premiere Elements 2023 is not affecting the way Photoshop Elements 2021 is working.
Reset the Photoshop Elements Preferences:
Preference settings control how Photoshop Elements Editor displays images, cursors, and transparencies, saves files, uses plug‑ins and scratch disks, and so on. If the application exhibits unexpected behavior, the preferences file could be damaged. You can restore all preferences to their defaults.
Note: Deleting the preferences file is an action that cannot be undone.
Do one of the following:
A new preferences file is created the next time you start Photoshop Elements Editor. For information on a specific preference option, search for the preference name in Help.
from here:
https://helpx.adobe.com/photoshop-elements/kb/preference-file-locations-photoshop-elements.html