WilliamP, although I don't own Photoshop Elements, I have several Adobe products (Dreamweaver in particular) where I was able to keep older versions around, while installing newer ones. FYI. The Photoshop Elements 13 Release Notes states: I assume the above should apply to version 14 as well.
I have two versions of Photoshop Elements installed on my notebook, although both are older than PSE 14.
The one annoying thing about Photoshop is the online help menu is broken. Workaround is to download manuals for the relevant version. Their photo editing software is the de-facto standard and it works well enough in spite of the fubar help and update settings. I have Paint.net as freeware and Zoner Photo Studio 18 as the paid photo suite.