What processor do you have and with how much RAM? How much, free, clean, defragmented space is on your hard drive?
Is there anything unusual about your computer configuration? Do you have more than one drive or are you editing from an external drive?
Have you ensured that any photos you are using in your project are sized to no more than 2500 pixels wide and 1875 tall?
What model of camcorder is your video coming from and what is the video's format and resolution?
Do you render your timeline (press Enter) whenever you see a yellow-orange "render" line along the top of the timeline?
Is a brand new Win10 build as of October. Is a Core i5 with 16Gig of RAM, and 100Gb of free HDU space out of a 500Gig drive. Running Win10 64bit. Only one internal drive. Older version worked fine for weeks, and the new version did for a while until I hit the enter key to render it, and went to bed. All media was from my Galaxy S7 phone, both the video and still photos.
The "render" is what I set it to do the last time it worked.
I have Intel video as well, as I noticed that there were issues with some of the other video cards. From what I can tell, none of my hardware should be an issue. I am an computer tech, so it is all kept in pretty good shape.
If you can give me more of the information I asked for above, I may be better able to help you. Also, please be specific which i5 processor you have. There are dozens!
Can you please try one thing?
1. Launch Premiere Elements
2. Go to Preferences - General
3.Uncheck the "Use Hardware Acceleration" option
4. Open your project and try to render.
Otherwise relaunch PRE after changing the preference settings and open your project.