A family of Microsoft word processing software products for creating web, email, and print documents.
You are right. This is a long-standing issue.
Microsoft will tell you that they have restored it.
They have, sort of. It is just a lot of clicks!
See this message in 2016.
This is the right-click menu:
Or, you can try See More...
Then the editor comes up and you can click the drop-down by a correction choice to find AutoCorrect.
You can also restore the legacy spell-check dialog that still has this.
Classic Spell Check Dialog - Macro to use classic dialog rather than Editor
I am using Microsoft 365 but believe that all the messing around with the Editor has been in Word 2016 as well.