There is no pre-defined tag called "Rating", so ExifTool will report that the tag doesn't exist if you try to write it. If the tag isn't in the documentation, then you can't write it.
The confusion arises because ExifTool will extract information for some tags which are not pre-defined (in the XMP information for example). It would be useful to know where your "Rating" tag is found (run "exiftool -G1 -rating FILE" to see what group it is in). I haven't seen this tag used before.
I have searched the web for this addition to the basic xmp schema, but can find no reference. I can (and will) add this new Rating tag (it will appear in version 5.63 when it is released), but it is possible that other tags have been added to the specification and it would be good to add support for these tags as well. Let me know if you discover any more XMP tags written by Photoshop that aren't documented in the ExifTool XMP Tag names.
Thanks.This change will appear in ExifTool 5.63 which should be released within the week.