The good news - support replied with the answer in my case. Elements HD now working. Here’s what I received from support:
1.Go to Applications > Utilities > Disk Utility
2.Locate your drive under External drives (it should show something like disk1s1)
3.There is a button on the top left of the Disk Utility window for view. Change it to Show All.
4.There will be two lines corresponding to the drive.
5.Restart the erase/format procedure. But this time, instead of selecting the volume (the second tab), please select the first tab (the drive). The issue should be fixed.