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I've used Premiere Elements 2018 on other PCs, and I wanted to install it on my brand-new custom-built PC. However, it freezes on the splash screen at "Loading PlayerMediaCore.pm." I'm using Windows 10 Pro Insider Preview 64-bit build 18219. I tried reinstalling Elements and restarting my PC, as well as manually installing the VS extension packages (C# redistributable 2017 x64 and x86) that failed to install.
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You say you're using a beta (non-final) operating system. That might be a factor.
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I'm having the same issue as OP. My OS is not a prerelease version of Windows. It is a fully-patched (as of this week) copy of 1803.
Not sure, but the hang during launch of Premiere Elements might have begun after applying the latest cumulative OS update from Windows Update.
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Have you manually gone to the nVidia, AMD or Intel site and ensured you have the latest drivers directly from your GPU manufacturer rather than trust Windows to supply it?
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A google search for "PlayerMediaCore.prm" produces a variety of rare and odd links to issues.
There are a couple of things to try here: Launch issues on Windows 10
It may work to download a fresh copy of the Premiere Elements installation files: Download Adobe Premiere Elements | 2018, 15, and 14
If that doesn't work, you many want to initiate a "chat session" with Adobe: Contact Customer Care