What is the computer operating system for your HP computer? And, since it is a HP computer, does it use more than one video card/graphics card.
Premiere Elements has problems with that 2 card system. Please tell us the card situation as shown in Device Manager/Display Adapters.
The usual drill
1. Running computer from a User Account with Administrative Privileges and Run As Administrator applied to desktop icon?
2. Latest version of QuickTime installed on computer with Premiere Elements?
3. Did you install the program to the default, Drive C location?
4. Does the problem exist with and without antivirus and firewall(s) disabled?
Even though you cannot open the Premiere Elements Editor, can you open the Elements Organizer?
Let us start here and then decide what next.
Add On...You may want to look at the following