Is there an intention to add support soon for H265 format ?
I'd really like to buy the Premiere Elements but the lack of support for this format hinders me, since I have a lot of video I shot with H265 with my camera and wouldn't like to go through the burden of transforming them to H264 format.
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Only Adobe staff or beta testers will know the answer to this and they won't let it out until it is released (if it is in the works).
This is primarily a user to user forum.
If the primary need is to edit H.265, consider looking at CyberLink PowerDirector.
I understand your concern, however, with the latest release Premiere Elements 2019, the support for the H.265 files has been added for Mac OS with version 10.13 and above. To know more, check out this link: Features & Enhancements | Adobe Premiere Elements 2019
In case you are working on Windows and you wish for adding H.265 support, please add your voice here: Premiere Elements: H.265 HEVC for windows | Photoshop Family Customer Community
I hope it helps.
Kind of stupid windows customers have to ask for h.265 support as its implemented on the mac and most of Adobe's competitors support the codec....