When you launch the application after installation, the app gets stuck at the 'Setting up environment for first launch’ screen. This issue affects users who have purchased Photoshop Elements from the Windows Store.
1. Uninstall Adobe Photoshop Elements 2020.
2. Change the default save location of Windows Store apps to Bootable drive [C:\]. This can be changed from Settings > Storage > Change where new content is saved.
3. Re-install Adobe Photoshop Elements 2020 from Windows Store and then try launching the application. Purchased applications are listed under My Library in Microsoft Store.
Write an email to GRP-ElementsSupport@adobe.com if more help is required.