Your D7200 is supported by the FREE Adobe DNG Converter, version 9.1.1 which you can download here: www.adobe.com/downloads/updates.html
Use this software to convert your RAW photos to DNG, and then import the DNGs into Lightroom 5 or PSE 12
Please check the below thread.
PSE 12 will not be able to use the proper version of Camera Raw for the D7200, it cannot use Camera Raw versions above 8.5 and the D7200 requires version 9; and Lightroom doesn't use the Camera Raw plug-in at all
That's nice that someone has marked an earlier answer correct, but it is not correct.
The Camera Raw Plugin that works for the D7200 is useless in both Lightroom and PSE 12. You need the DNG converter version 9 or later.