Adobe’s list of their apps compatible with macOS 15 Sequoia.
https://helpx.adobe.com/download-install/kb/macos-sequoia-compatibility-common-issues.html
Note that Photoshop version 25.12 is listed as compatible with Sequoia.
From Wikipedia
2021 (version 22)
Version 22.0.0 was released in October 2020.
Version 22.0.1 was released in November 2020.
Version 22.1.0 was released in December 2020.
Version 22.1.1 was released in January 2021.
Version 22.2 was released in February 2021.
Version 22.3 was released in March 2021. This is the first macOS release to run natively on Apple silicon.[72]
Version 22.3.1 was released in April 2021.
Version 22.4 was released in May 2021.
Version 22.4.1 was released in May 2021.
Version 22.4.2 was released in June 2021.
Version 22.4.3 was released in July 2021.
Version 22.5 was released in August 2021.
Version 22.5.1 was released in September 2021. Final version to include (as Legacy Swatches) a large set of Pantone color books, including Pastels & Neons, and Premium Metallics.
So it looks like Photoshop 2021 will not work with Sequoia, or might stop working at some point after a Sequoia update. And before you ask, it will not be possible to install an earlier version of macOS on a new MacBook that ships with Sequoia.