You might be right. When you upgraded to Catalina your Photos app automatically upgraded to Photos 5 from Mojave's Photos 4. Then when you switched back to Mojave you reinstated Photos 4 and perhaps the link was somehow broken with iMovie. But then, reinstalling iMovie should have re-established the link.
Try resetting the System Management Controller:
https://support.apple.com/en-us/HT201295
Also try booting up in Safe Mode (see Finder menu for instructions) and, after everything loads, shut down and reboot in normal mode.
Maybe it's just a matter of sequencing. Try closing iMovie and Photos. Then open Photos and park it on your dock. Then open iMovie. See if it connects.
As a side note, even though the Photos item is not showing in the iMovie sidebar, you can still directly drag your photos and videos from the Photos app into iMovie.
If still nothing works, I would suggest contacting Apple Support. Click on the Contact Support item in the upper right hand corner of this forum's screen. Navigate to a place where you can enter your phone number or make a telephone appointment. The techs there are pretty savvy. Plus, they have the capability of remotely accessing your computer, that we can't do here. If you follow that route, and have time to post back, let us know what results you got.
-- Rich