ArcSoft still exists (ArcSoft Corporation Limited). They have not explicitly released PhotoStudio as freeware. However, they ceased sales and support around 2010. Most copyright lawyers consider downloading it "abandonware," but technically, it is still copyrighted.
Right-click the .exe file, go to Properties > Compatibility , and select Windows XP (Service Pack 3) . arcsoft photostudio old version new
A streamlined viewer and basic editor designed for quick workflows. How to Get an Old Version Working on New Hardware ArcSoft still exists (ArcSoft Corporation Limited)