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Will Elements 2019 be update to accept raw files from my Lumix DC-LX100M2 (Camera Raw)?
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Cameras supported by Camera Raw
This new camera requires ACR 11.0 while Elements has only 10.4.
Adobe never announce introduction schedules. So, the answer is maybe yes, maybe no. That' because ACR 11 has new features other than supporting new cameras. That may take more time than as usual.
However, you can download the free DNGconverter mentioned here:
FAQ: Will Photoshop Elements work with my camera, or Why won't my raw files open?
It can batch convert a whole folder of your raw files to the DNG raw format that your PSE 2019 will read and edit.
An additional step, but free and with the same quality.