Thanks for your response.
I hadn't realised my version was that old; my application settings were set to auto-update.
Attempting to install the latest version failed as my system fell foul of
2019 SHA-2 Code Signing Support requirement for Windows and WSUS
However I was able to successfully install the Malwarebytes version 4.3.0.xx for Windows legacy build
and this doesn't report PhotoStudio.exe
Windows 2019-09 Security Update for Windows devices running Malwarebytes home products
This dinosaur has defective eyesight and is restricted to very limited hours on the computer, including that for debugging. Your reply lead me to the solution relatively quickly which is very much appreciated.
Thanking you.