What type of footage are you editing?
Just because Premiere Elements doesn't fully utilize your graphics card doesn't mean it's not a good editor for you. In most cases, Premiere Elements and Photoshop Elements are such efficient editors that they don't need to access your graphics card in order to perform very efficiently.
So don't confuse "doesn't support" your graphics card with "doesn't work" with your graphics card. I have a very high end graphics card on my computer, which comes in very handy when I'm editing motion graphics with After Effects and HitFilm. But, for video editing, Premiere Elements works terrific without needing to take advantage of my system's advanced graphics capabilities.
So what kind of footage are you editing and what is it that you need your photo and video editors to do that they're not doing?
well, I do lot's of timelapse stuff. Therefor I need features like zooming, paning and different corrections of the raw material. I also edit footage of my GoPro and digital camara. There the content varies a lot. For sure i allways add title and stuff like that. Features like motion tracking sounds very nice, but I did'nt use it yet.
As mentioned before, a powerfull CPU can help a lot, but unused hardware is wasting resources.
You should have no problem doing any of those things in Premiere Elements without added GPU support on a 64-bit system with a current processor and decent RAM load.
FWIW, I mistakenly thought I would need new software to edit 4K footage from a new camera. Oddly, Adobe does not mention it at all any any of their marketing literature specifications. Sony did and lists GPU enhanced processing. Looking forward to blazing speeds, I tried the Sony product that is priced to compete with PrE. It was not any faster, I found it harder to use and was happy to discover I was wrong about PrE and 4K. It works fine for that. GPU support turns out to be less important than I thought.