Recently installed PhotoShop Elements 2020. When I started it today, I got error "Adobe Application Manager, required to run your product, is missing or damaged. ..." The provided link to download was invalid.
Are you using Mac OS Catalina? AAM is 32 bit and will not run on Catalina. It could have been installed with an earlier version of PSE. If you ignore the message does the PSE 2020 software function ok?