Automated Personalization not showing option to select optimization algorithm

When I am setting the Targeting for Automated Personalization (AP), there used to be an option to select an optimization algorithm (this is about 2 years ago). The training videos from Adobe show this option clearly (see screengrab below of a similar video):

However, I am unable to see this option in Targeting section of AP anymore. Would anyone know whether Adobe removed this option? I did not find anything in the release notes. Or is there something in the settings that I need to fix.

Below is the screengrab of what I see today (there is no option to select an algorithm)