Hi @Teri Ko,
It looks like you have created a news post using one of the new 'News for Email' templates.
These posts are designed to work in SharePoint and also in email clients. This means that the available web parts are limited to ones that will work in emails - you can read more about them here: SharePoint News for Email templates - Microsoft Support
If you want all the web parts, you will need to create a new news post and choose one of the 'Standard' templates instead (e.g. Blank, Visual, Basic text)

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