I have a legal copy of CS 5 on my old MacBook Pro. I just bought a new MacBook Pro and contacted Adobe about
moving it. The tech at Adobe was helpful and helped me download something called Adobe CS5 Design Standard.
But it just sits on my desktop and does not open. I read where 10.12 is not compatible so I downloaded Java for OS X 2015-001
but even that did not help (i.e., open). Is there no way to run a 7 year old CS5 on a new MacBook running Sierra 10.12.5?
CS6 and earlier programs have not been tested and will not be updated for Mac El Capitan/Sierra
-which means that you try to use CS6 and earlier at YOUR risk of having problems due to Apple updates
-Apple did not maintain backward compatibility with old programs in El Capitan or Sierra
--Adobe has a workaround to Apple's problem of not maintaining backward compatibility
--help links and Adobe solution to Apple's problem in this message https://forums.adobe.com/thread/2301916
Give this a try: Installing Creative Suite on macOS 10.12 (Sierra)
There are screenshots to guide you through.
As been said, no way to predict if it will play well enough for you and you will have to install the updates.
Best way is to update the AAM Adobe - Adobe Application Manager : For Macintosh : Adobe Application Manager
Most likely you will need to use the same Terminal trick as outlined above, but then that should fix updating via the Help Menu.