Which operating system are you running on?
Is this the Store version of the application?
Do you have any downloaded trial versions on your system?
I get to work correctly using the non-store version on Windows 10. The licencing for the store version is handled by the store and not by Adobe. Your problem maybe another difference between the two versions.
1. Window 10 pro
2. Installed from disks from Adobe
3. No downloaded trial version on my system
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The way "Store" is displayed in the message suggests that for some reason it has picked up the Store version rather than the version you loaded from Disc. This could be down to how you set up the default apps for JPG/CR2 or you may have hit a quirk of Windows. Try emptying your recycle bin and try again.
I don't normally have it set up that way because it takes too long to load the editor if I just want to view an image. My normal method of
working is to load the organizer and start the editor from there. If you want to set your system up to open JPG/CR2 files with the editor, then you could try this procedure. Steps 1 though 5 are necessary because Windows sometimes gets confused if you have ever had a previous version installed.
1. Using Windows File Explorer, navigate to (assuming you use the defaults)
C:\Program Files\Adobe\Photoshop Elements 2018
2. Locate the file PhotoshopElementsEditor.exe
3. Right click on the file and select Copy
4. Right click on a blank space in the folder and select Paste, click on Continue if you get a warning message. That should create a copy of the file called PhotoshopElementsEditor - Copy.exe
5. Right click on the file, select Rename and call it PSE2018Ed
6. Now find a JPG file somewhere on your system
7. Right click on the file, select Open with > Choose another app
8. Check the box for Always use this app
9. Scroll to the end of the top list and select More apps
10.Scroll down the list again and select Choose another app on this PC
11.In the file selector, go to the folder C:\Program Files\Adobe\Photoshop Elements 2018
12.Select the file PSE2018Ed
13.Click on Open and PSE 2018 should load and open the file
14 Repeat steps 6 through 13 for a CR2 file
Hopefully, it should now work as you wanted.