There are workarounds, but it's not built in.
One option is to apply the shadow you want, go into the FX and drag the Distance slider so the shadow is completely separated from the element, Simplify the layer, drag a selection box around the shadow, and cut. Now you have a shadow on its on layer to paste back in and modify however you want. IIRC, there is no "Warp" in PSE but you can still do some distortions on it that look good.
The other option is to make the shadow 'from scratch' yourself. Duplicate the element, make it solid black (or dark brown or whatever color you make your shadows), change the blend mode to linear burn, manually offset it however many pixels, apply a Gaussian blur, and lower the opacity until it looks good.