Please give information so that we can give you the answer that you seek.
On what computer operating system is Premiere Elements running?
It is not understood what you mean by "Can Adobe Premiere Elements 14 video edit rewind in a video?" What is "rewind"?
Is the video protected?
This is not Adobe. This is essentially a user to user forum. Nevertheless, we need details to help you.
Please consider and supply details.
If you mean "Can it reverse the video?" then yes it can.
Yes or no is not going to help get whatever you want done without your question explained.
I could tell you that you can use in Premiere Elements 14 Windows and do either of the following or both
a. In Expert workspace, right click Timeline clip, select Clip/Time Stretch in the pop up menu, followed by select of "Reverse Speed" in Time Stretch dialog
b. In Expert workspace, select Timeline clip, go to fx Effects Tab at bottom of workspace/Transform/Horizontal Flip and drag the Horizontal Flip into your Timeline video clip
But, I would not know what question I was answering without the requested information. At the present time, do you have Premiere Elements 14 Windows or Mac or are you getting information together for a purchase of a video editor to meet your video editing needs?