A "Portable" version of software usually refers to a program that has been modified to run without being formally installed on a Windows registry. This is excellent for people who use public computers or want to carry their editing tools on a flash drive.
This act places the software in a legal and ethical grey zone. For the user, it represents a bypass of the paywall. But it also represents a security risk. Unlike the official portable apps released by the open-source community (which verify checksums and prioritize safety), cracked "portable" software found on obscure blogs is a prime vector for malware. Trojans, keyloggers, and cryptocurrency miners are often embedded deep within the code, hidden from the user who is simply excited to use Photoshop for free. The trade-off is steep: trading digital sovereignty for the convenience of a free tool.