Are layers and masks available while processing RAW files in PSE14?
The ACR conversion module does not provide layer support, nor masks. The local adjustment brush tools are not available in the ACR version of Elements. That means that you convert your raw file and open it directly in the editor part of Elements. There, you can use layers, masks, save files etc. The editor lets you combine several pictures, raw or not, in several layers and use masks. Note that if you want to use layers in Elements, you must set your ACR menu to open in 8-bits in the editor. Elements does not support 16-bits layers.