Losaria, Leandro (Manila) Greetings & Welcome to Microsoft Q&A forum!
I'm also not seeing the model in the drop down list. I think you are looking into the deprecated model.
As mentioned here, The embedding model will be retired effective July 5, 2024. It is recommended that customers should migrate to available replacement models before the July 5, 2024 retirement.
To prepare for model retirements and version upgrades, we recommend that customers evaluate their applications with the new models and versions and evaluate their behavior. We also recommend that customers update their applications to use the new models and versions before the retirement date.
For more information, see How to upgrade to a new model or version.
If you are still need to proceed further, please submit a service request.
Do let me know if you need any further help.