I purchased and downloaded PSE 2020 within in the past few weeks. I am receiving an error when attempting to open a saved .psd file that was create in PSE 2020. The error reads: Could not complete your request because Photoshop Elements does not recognize this type of file. I have attempted to restart computer and program without success in opening file.
I am at a complete loss and need to not only open this file(s) but have confidence the work I create will be accessible.
In addition to the above it might also be useful for us to know how you're trying to open that file: do you try to double click on it or are you trying to open it from within Photoshop Elements ("PSE")?
Also: are you by any chance using OneDrive? If you do then make sure that the process is actually started, if not then you can run into issues like yours.