Well, I would say that v5.4 is still unstable and maybe try 5.3.2.
BUT, there is one thing:
I don’t have in my editor that collision presset you’ve got there. I suggest trying using this one:
Then check again if the option is where it should be.
Let me know even if it does not work for you.
EDIT: I have just seen you are using the Fornite oriented editor. I may be wrong with my answer.