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Ask in the ACR and PSE forums.
Moving this discussion to the Adobe Camera RAW forum.
My guess is even though you upgraded to the latest version of Elements you haven't updated to the latest version of ACR, the Adobe website lists ACR 7.3 is required for the D5200.
And, don't use any of the Nikon software to download your images. The software is changing something in the raw images so that Camera Raw cannot open them even if you have the right version.