And let me guess, only available for PSE2020 with a big middlefinger to previous versions.
Yes this update is only available for PSE 2020. Although PSE 2019 did get a recent ACR update.
That's really stupid. Everyone should know that PSE is throw-away software with the worst support of all software i EVER came across. I can only tell everyone to check out other software that is supported longer than only one main version.
Those running older versions are not left out.
For older versions, you can download and run the FREE Adobe DNG converter to convert Raw files to DNG format. Then import the DNGs into PSE 2019 and older versions.
Considering the broader perspective and the history of DNG and Raw file formats, protesting should be addressed to the camera makers rather than Adobe. Proprietary Raw files are the very reason Adobe invented the DNG format. I even got a hard copy leaflet in the mail 20 years ago from Adobe explaining what would happen (constant new Raw file formats and updates) if DNG was not adopted by camera makers.
If camera makers offered DNG as a setting on their cameras in addition to Raw and JPG, no-one would need the Camera Raw plug-in. We could all import our DNG files into any version of our software. But camera makers refuse to offer DNG in their cameras.
So, Adobe updates Camera Raw for current versions of its software only to handle proprietary Raw formats. Other software vendors such as Capture One do the same.
As a compromise so that other customers are not left out in the cold, Adobe also provide the updated DNG converter free of charge for older versions. Older version Adobe customers, who have not paid to upgrade their software, therefore have one extra step (convert to DNG) to import Raw files from brand new cameras which only offer proprietary Raw formats.