Hello!
That option isn't present for me. All I have is "Community", "Support", and "Uninstall".
If it helps, the launcher crashes before it can install the update. The download finishes, and the install part starts. However it crashes within 5 seconds and can never finish the install.
I've attached a recording of what happens, as well as a screenshot of my 'options' menu.
launcher 2020.11.17 - 10.11.00.02_Trim.mp4