I have CS5 (12.0.4)
Can't open raw images
Do I update something?
Are these new version subscriptions replacing the older versions?
These million screens make get this answer impossible. Help!
Yes with the subscription you will always have the latest version. You can even have both your CS5 and the CC 2015 version installed on the same machine. So I would recommend downloading and installing the latest version of Photoshop 30 day trial and see if it is right for you.