If you looked at that list you will see that Camera Raw 7.4 is not compatible with Elements 10. If you upgrade to Elements 11 you will be able to use Camera Raw 7.4, and any updates to Camera Raw 7.x will be available to you at no charge. However, when Elements 12 is released there will be a new version of Camera Raw that will not be compatible unless you upgrade to Elements 12. That's just the way it works with the Adobe programs.
Lightroom does not use the camera raw plugin. That technology is part of the Lightroom program. So you always want to have the latest version if you want to keep up with the technology.