I am unable to launch Adobe Photoshop Elements 2021 on my Macbook. [updated to macos Monterey 12.5.1]
I cannot use Adobe photoshop elements 2022 because my serial number is only valid for Elements 2021.
About your only option is to get the latest version (pse2022). A new version is probably getting released in the middle of next month.
Not aware of pse 2021 working with 12.5.1 for anyone.
You may need to install the Creative Cloud application before installing Photoshop Elements:
I had to install it to be able to install PSE 2018 on Windows 10.