The Video Editor setting defines the Video Editor XML format in which live:cut exports the EDL.
Available options are:
Final Cut Pro 7
Final Cut Pro X
Adobe Premiere Pro CS6
Adobe Premiere Pro CC
Adobe Premiere Pro CS6
Adobe Premiere Pro CC 2014
Adobe Premiere Pro CC 2015
Adobe Premiere Pro CC 2017
Adobe Premiere Pro CC 2018
EDIUS
All newer Adobe Premiere versions work with "Adobe Premiere Pro CC 2018" option.