Both .pds and .wve come as projects from Cyberlink PowerDirector but both save different purpose so it does not make much sense that some kind of pds to wve conversion is possible. Maybe some content can be transferred, but direct conversion on file by file basis is not likely.
If you are determined that this export should be possilble, or you need it for some specific reason and struggle with that, it might be best to reach out to Cyberlink support for help.
Updated: October 17, 2023