I just checked my new Teams and also didn't have the "Check for Updates" option, since the launch of new Teams, some users have found that some options in Teams are missing in new Teams. Hope Microsoft will improve it in the future. But you can check if your new Teams are up to date in Teams setting.
Meanwhile, to get this feature more quickly, we recommend you give the feedback in Teams UserVoice. Many features of our current products are designed and upgraded based on customers’ feedback. With requirements like this increase, the problem may well be released in the future. Thanks for your understanding and support.
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