PhotoLab 4 should be able to read/show/export psd files in the same way it reads and writes tif and RAW files. I love PhotoLab which is way better than LightRoom Classic in many regards but I use Photoshop frequently and PhotoLab does not “see” psd files. While one can use tif to save in Photoshop the files are at least 40% larger than the comparable psd. When working with high pixel count cameras like the Sony a7R4 or Fuji GFX 50R manipulated Photoshop files quickly grow to multigigabyte size. A 40% reduction in file size (without any compression) is important.
Yes, I absolutely second that. While I don’t think PhotoLab to be able to handle psd-files with layers, it should work in compatibility mode (PS set to save with max compatibility).
In the past I had problems, when one-layer tif-file was saved including alpha channel information, but that seems to work now in PhotoLab.