This article explains the easiest way to add an outline to text in Photoshop. It also includes information on how to make the outline more exciting. Adobe has not changed the basic methods for outlining text since Photoshop CS6 was released in 2012.
Sketching Text in Photoshop
Spice up your art projects by learning how to create text outlines in Photoshop, no matter what platform you use.
With a monthly subscription (or free trial) for Photoshop CC, you get all of the software’s most powerful features. Whether you’re using the latest version or one from a few years ago, the simplest method for outlining text works the same.
It's useful to use the Stroke effect on layers, but it's tied directly to that layer and therefore harder to edit on its own.