While the current path is active, you can see its outline in the document window. In Photoshop Elements, you can't hide it by using [Ctrl+H] shortcut*. To get rid of this outline, you have to deactivate it with the "Deselect Path" action.
Later on, you will be able to re-activate it by using one of "path selecting" actions.
*In Photoshop Elements, this also means that you can't hide current shape layer outlines. To preview your design without contour (screenshot), just double-click the "Deselect Path" thumbnail.
