So, no raw converter version can read any new camera raw format issued after the converter version.
Each new camera model comes with its own new, unique format.
New converter versions (ACR updatesp) are required later on.
With Elements, an update of the ACR plugin requires also an update of Elements itself. That's generally available only for the current Elements version (today, PSE 2022; version 20).
So, for all older Elements versions, Adobe offers a free solution: the free DNGconverter software, which batch converts a whole folder of proprietary raws to the open DNG raw format that all old ACR version can understand and edit.