I am having this problem as well. A psd that was made in the version of photoshop I am using no longer 'is compatible' with my version of of photoshop(the same version it was made in) Adobe CC 2017 ).
It could be corrupted. I am able to open Layered PSDs as far back as Photoshop 5.5 in CC 2017
Here's a few good tips on recovering the file: Is there a fix to "file is not compatible with this version of photoshopâ problem? - Graphic Design Forum
Look at them all. Maybe you even have a "Previous Version".