There are no issues with the Photoshop CC2025 major release itself.
The problem is specifically with the Photoshop CC2026 major release from ≥v27.2, which are not currently being patched correctly.
This issue has been known since the beginning of December and has already been documented. It is clearly stated on the Compatibility List and has also been posted in the Announcements channel on GenP Stoat.
For this reason, updating to the latest Photoshop version was, and still is, not recommended.
If you scroll through recent posts, you’ll see this has already been discussed. It’s always a good idea to check the Compatibility List and Announcements before updating, as issues like this are often already covered there.
Because the latest release is not patched properly, Photoshop crashes shortly after launch. To resolve this, you will need to roll back to Photoshop v27.1 and then repatch it.
Alternatively, you can use the temporary Photoshop v27.2 file in the Announcements channel on GenP Stoat.