That error is usually caused by a bad registry error.
You wrote that you installed Photoshop on the new computer. The next sentence you wrote you installed the master suite try out. Did you actually install CS4 then installed the master suite over that? Little confused here.
You cannot install the master suite over the CS4 already installed because the master suite already has CS4 installed as a package. That may be where your error is at.
Anyways here is a link to the creative suite forums. They may be able to help you out better.
What are your system specs? Processor? Memory? Motherboard? May be a simple compatibility issue trhat can be fixed by flipping a switch in the BIOS. Likewise, it could be a graphics card issue. Apart from that, make sure to run Windows Update and have all the latest versions of additional runtime libraries like .NET and MSVC.