Options for Shared VMs missing in Workstation Pro 16

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In Workstation Pro 15 / 15.5 had options for Shared VMs and I’m simply not seeing that in Workstation Pro 16. For example, When I choose Edit > Preferences… in the VMware UI there is no Shared VMs option displayed.

 

How can I go about managing and creating in Shared VMs in Workstation Pro 16?

 

NOTE: I am running Workstation on Windows 10, 20H2.

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