It is a lossless conversion and can be done in Lightroom Classic or with the free, downloadable, Adobe DNG Converter. Until then consider converting the XT-30II RAW files to the Adobe DNG RAW format. In other words, you may get an update in coming months that will allow direct use of your new camera's RAW files. My experience is that Adobe will surprise us with a Premiere Elements update 2 or 3 times during the market cycle year but it is usually months behind the more publicized releases for the Creative Cloud apps. The table suggests that there is a long history of ACR use and updates to Premiere Elements. You can also enhance or change colors in skies or backgrounds, create double. This table shows that Photoshop Elements and Premiere Elements through 2021 were updated through ACR 13.0 but does not list PrE 2022. The latest version of Adobe Premiere Elements packs a variety of tools for creative video enhancements, including tools for lightening shadows or blurring select outlying areas around your subject with full tracking throughout the video. Adobe is now up to version 14.1 in their Photoshop/Lightroom apps. This table shows that the XT-30II requires ACR version 14.0 and the X-E3 uses ACR version 10.0.
Niether Lightroom Classic or Premiere Pro can do that! In Premiere Elements, you can make 4K slideshows for your 4K TV direct from RAW files. Lightroom has it's own slideshow module, but I think Premiere Elements is far better. It even will read adjustments made in Lightroom Classic if the option for XMP "sidecar files" is turned on. Unlike Premiere Pro, it has the ability to incorporate RAW files.
To Steve's point, once imported into Premiere Elements, RAW files do not benefit from the range of editing possibilities in RAW editors like Lightroom Classic, Photoshop or Photoshop Elements. Steve and I have disagreed on this before! My view is that Premiere Elements is an outstanding slideshow or composite video creation tool.
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