I just purchased Photoshop Elements and now there is a new version. Is there a grace period?

Anyone who has bought PSE 2020 just received a notice that a new update (not version) was available an was prompted to choose when to install it, now or just after quitting.

The message states "a free update", but I think most users will miss the word "free".

When the new "update" installs, everything looks like a new "version" install with the necessary "sign in" procedure where you have to re-enter your license key. No need to "buy" anything, that's free. If you have bought PSE directly by download from Adobe, your license key is available in your Adobe account.

See the other posts of yesterday about that very unusual updating procedure for Elements.

Not only is it very annoying to have to sign in again, but if you have disabled media analysis or auto creations, they will be activated again. Some complain that the styles they have installed have to be reinstalled...

https://community.adobe.com/t5/photoshop-elements/photoshop-elements-2020-update-january-13th/td-p/10852631

You ususally have 30 days to get a refund for your sotware purchase if purchased directly from Adobe:

https://helpx.adobe.com/in/x-productkb/policy-pricing/return-cancel-or-change-order.html

See https://helpx.adobe.com/x-productkb/policy-pricing/upgrade-policy-product-announcement.html