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Can I update my Adobe Photoshop Elements for Catalina, or must I purchase the product again?
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What version of Elements are you using? Only Elements 2020 will work with Catalina.
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So does that mean that I have to purchase the program again for full price? No updates?
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You can get PSE 2020 at the upgrade price if you own any prior version.
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Since it was Apples decision to make Catalina 64 bit only, with no exceptions, and no backward compatibility, yes you'll need to purchase PSE 2020 and you can thank Tim Cook for that. PSE 2019 continues to run fine on 64 bit Windows 7 and Win 10 machines with no updates or patches required. I feel your pain bro.
If it's any consolation, the full 2020 installer is on sale until 4/19 for $5 cheaper than the upgrade price.