My Photoshop Libraries panel states "To use Creative Cloud Libraries, please install the Creative Cloud Application". I've had a CC subscription for a number of years. When I open CC from the Mac NavBar or from Adobe Application Manager, it lists all the installed applications, etc. So obviously my subscription is active
When this has happened in the past, quitting and relaunching PS solves the issue. Not tonight. Even a computer restart hasn't solved the issue.
Mac OS 10.12.5
Photoshop CC 2017.1.1
Somehow, it looks like the CC and Photoshop have lost their "connection" - Photoshop isn't recognizing that CC is running. First thing I'd suggest is using that pull-down menu for CC and using Photoshop's Open button, and see if that opens Photoshop and makes them recognize each other (sorry - my CC needs some updates, so I don't have Open next to my Photoshop at present).