Hello Fahim!
Premiere has always been “backwards compatible,” meaning you can open a project created in an older version with a newer version of the software without issues. What you can’t do is the other way around: a project created in a newer version won’t open in an older version, which is exactly the error message you ran into.
If that’s your situation, the usual workaround is to run the file through a “Premiere Pro Downgrader.” A quick Google search will bring up several sites that do this for you: you upload the project, and they’ll give you back a version saved for an older release. Just keep in mind that this only works reliably with the basic stuff—if the project uses newer features that don’t exist in your version, those parts will either be missing or won’t work properly.
That’s really the only way to force compatibility backwards if you can’t install the latest version because of hardware or system limitations.
Good luck with your project!
Best,
Ivan Eldredge G.