ACR v16.3 works just fine in Elements 2024. There are no problems!
If you are a CC subscriber, . . .
Copy the Camera Raw.8bi file from the File Formats folder in Photoshop 2024 to the File Formats folder in Elements 2024.
If you don't have a CC subscription, . . .
Follow the directions below posted on the Adobe Support Community.
The following is a workaround to update Camera Raw within Elements. It is recommended to wait for Camera Raw updates within the product for issue fixes.