It is virtually the same in Word 365. When you have the selection in a table, two tabs - Table Design and Layout will appear in the ribbon and on the Layout tab there is a Data section that includes the Convert to Text facility as shown below:
I do note that via recent update, the "Table Tools" no longer appears above those tabs and, depending upon the space available on the ribbon, the buttons may be laid out in a different manner
And, in the case of there being very little screen real estate, it may be necessary the click on what then appears as a Data dropdown, to see the commands that are available