Have you installed all the updates to Photoshop and ACR?
What kind of CPU are you using?
I've installed all the Adobe And ACR updates. My CPU is Intel i-7-2600 @ 3.40 GHz. 16 GB RAM.
Does it lock up whether you open from Bridge or PS?
I ran updates again. Not sure I did the ACR updates before. It seems to have fixed the problem. Thanks for all the help.