If you are asking about this NVIDIA GeForce GT 635 as it relates to supporting more than one computer monitor, the answer seems to be yes.
Please refer to the following online Q&A.
Since most NVIDIA and ATI cards usually work with Premiere Elements (most versions), I suspect that this one will also. But, I have no
first hand experience with this specific NVIDIA card and Premiere Elements 12/12.1. Again, remember the Premiere Elements card is
not involved in CUDA and has no GPU effects or transitions. The card type decision is not in the same class as Premiere Pro.
I do not see this particular card on the Adobe document with its supported items. But, that document does not appear to be being updated.
So, no mention of your card there does not mean the card is not supported by Premiere Elements. Go with the built in video card memory and card
that you can afford. From a price perspective, you might probably run into an overkill (price wise) looking for a special card where special is
not needed for Premiere Elements.
That is my take on the situation.