There is a group of Adobe products which are called Creative Cloud applications. Adobe Premiere Elements is not a Creative Cloud application.
At this time Premiere Elements 13/13.1 is the latest version of this video editor product. Adobe is expected to release a new version of this product September October 2015. The features of this new version are not released until the moment of release of the new product.
This is not Adobe, rather user to user. We do not know enough about your situation to comment on your planned purchases. Keep in mind the the Premiere Elements versions are standalone products not updates of the old.
What version of Premiere Elements have you purchased and on what computer operating system is it running? Do you have any version of Premiere Pro?
Have you taken the time to look at the tryout of Premiere Elements before purchase to assure its compatibility with your computer operating system and project goals?
Depending on which Cloud subscription you have, you would be able to use Premiere Pro for video editing
If you don't need the features of Premiere Pro, or if you don't wish to pay for a subscription, the "pay once" Premiere Elements may be all you need
Add On to my post 1....
It all goes back to whether or not your Creative Cloud is related to a Creative Cloud application that you need and are using on your computer. If you have Premiere Pro (subscription based) got your video editing, that is one thing. It is a Creative Cloud application, but not Premiere Elements (video editor product which you purchased outright).