Me, too. Same situation. Apparently, .heic are not supported, though I don't know why it's suddenly a new problem. This is a game changer for me if they can't adapt. I take a lot of photos on my iPhone. Right now, I'm trying to see if I can roll back the update.
Fixed in 21.1.2 update today
No it isnt, still the same problem in 21.1.3
Works OK for me on macos 10.15.5
☺️ Sorry, was on fire,
Heic ist not chrashing my windows, it only still not supported by adobe... so i always need a converter... that sucks
Had repeated crashes today with HEIC files, which I created by scanning. Each scan crashed AFTER saving the file, but Photoshop cheerfully reopened and carried on each time. Afterward, I tried to open the HEICs for editing and they failed. But when I used Preview to convert to PNG, Photoshop thought they were just fine. Catalina 10.15.5 and Photoshop CC 21.2.0