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To say Adobe are making a right mess of this Photoshop Beta would be an understatement.
I was editing some images from Dublin, and this one of city's fine City Hall, it opened in 1779 as the Royal Exchange but functioning since 1851 the city hall. Unfortunately I ran into problems with editing the image.
The solution in most cases is simple, this is a known and acknowledged bug by Adobe.
Likely it is because you have also installed Adobe Photoshop (Beta), the newest version has an incorrect reference to Adobe Photoshop 2024 when in fact you have Adobe Photoshop 2023 installed.
This fix will work even if you are using Photoshop for external editing.
For me, on Windows 10, the error started after updating Photoshop Beta to the latest version (25.0).
CTRL+E in Lightroom, even with the official Photoshop app already open, caused the program to hang for several minutes after which Lightroom showed that error about Photoshop 2024.
After clicking OK, Photoshop did then open the image but it also instantly created a .tif version in the Lightroom filmstrip (normally when editing in Photoshop this tif wouldn't be created until you saved the file).
To fix, open Creative Cloud Desktop then go to Apps, scroll down to Beta apps and click on the three dots beside open for Photoshop (Beta)
Choose Other versions then go to the previous version, in this case I reinstalled 24.7.
You don't need to uninstall Photoshop (Beta) 25.0 as installing 24.7 here will uninstall the offending most recent, offending version.
Afterwards, Lightroom correctly shows the external editing in Photoshop to be Adobe Photoshop 2023 - Edit > Preferences... > External Editing > Photoshop Version:
Normality resumes, with Edit in Photoshop 2023 bringing the file instantly into Photoshop and loading it as a .CR2 file and only saving it when choosing to save.
I have read elsewhere of people uninstalling Lightroom and Photoshop but the simple fix is to try this first.
HEIC was introduced in 2015 by the MPEG. It's a part of MPEG-H Part 12 (ISO/IEC 23008-12) and was largely popularised by Apple, who started using it as the default format for photos on iOS 11 and macOS High Sierra in 2017, replacing the JPEG format.
A window will open with lots of options, for this we simply:
That's it, Photoshop will run, process the images and create the folders such as JPEG / TIFF / PSD with those files added.
You now have your HEIC images converted to other formats.