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The question about XQD/CF "files" would be one for your OS and attached hardware. If your OS/hardware can read the cards then software running on the computer should be able to. XQD cards do use a special reader to get the high-speed data transfer. If you don't use that hardware you might as well just use XTC cards which have the same capacity, just not as fast. You'd still need an XTC-compatible card reader but most are nowadays although pay attention to the specs.
Are you planning on shooting raw stills or video or just JPG? You will need the latest versions of Adobe software to work with raw files from the D500 or almost the newest to read from the D4S. Basically the software needs to be newer than when the camera was first available for public sale and Elements 7 is much older. PSE13 might work with the older D4s. PSE14 might work with the newer D500 with the latest camera-raw updates.
For raws, I would get an annual subscription to the Adobe Photography Plan which has Lightroom CC and Photoshop CC for US $120/year paid monthly at US $10/month.
If you're going to be doing video then maybe you want the full Adobe Suite for $600/year billed monthly at $50/month. You'd be using Adobe Premier and After Effects with your videos.
For reference, here is the minimum Camera Raw plug-in and Lightroom versions needed to support each camera you refer to. Basically the D4S has been supported for a couple years and the D500 for a few months:
Very many thanks for your time,effort and trouble in answering my question. I have quite a lot more questions about Photoshop and the two cameras and I will POST these in due course on ADOBE COMMUNITY forum.I may as a result hear from you again in due course.thanks,regards.