Photoshop not opening with Camera Raw edits / changes applied

I am loading a number of photos (as DNG) from Adobe Bridge into Adobe Photoshop as layers so that I can later align them (for a timelapse project).

When I select the photos in Bridge and then go to Tools > Photoshop > Load files into Photoshop layers the images load into a Photoshop document.

However, the adjustments made in Camera Raw are not being applied to the layers.

If I then open a single image to Photoshop from Bridge, it does load the Camera Raw edits. So the Camera Raw edits are only not being loaded when going into layers.

This is important, because to auto-align the layers I need the images to remain in DNG format, but once aligned I’m interested in exporting them to JPG.

I don’t know why the Camera Raw edits aren’t applied when loading into layers in Photoshop. Any one else have similar issues or any ideas?