Very important to say version of Premiere Elements involved and on what computer operating system you are running it on.
Have you contacted Adobe via Adobe Chat and is the problem resolved?
If not, while you are waiting for Adobe Chat, you might look at the following
Right click Computer, select Manage.
In the Computer Management dialog,
select Services and Management.
Under Services and Management, select Services.
In the Services, scroll to and look for FLEXnet Licensing and double click it. Make sure you see
a. Startup as Automatic
b. Service Status as Started
We will be watching for the outcome.