I have been into photograph for a while but I decided I wanted to start exploring the flexiblity of shooting/processing raw images. So I upgraded/updated my old copy of photoshop elements (I don't make money at this hobby so I hate the idea of subscriptions) only to discover that the Camera Raw Editor is a dumbed down version of the full Camera Raw plugin, for example tone mapping does not apear to be an option. Is there another available plugin that has all the functionality of the full camera raw plugin and works with elements?
Also, you may consider using the converting software bundled with your camera. Its advantage is to support proprietary features from the camera maker.
There are good free converters which you can use to send converted tiff files to the Elements editor.
For Elements, I also recommend the very affordable and powerful set of scripts "elements+" from Andrei Doubrowski. A number of those scripts handles raw corrections which are only available in the full ACR version. Many scripts to restore other missing functions of the full Photoshop.