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It is new. Was just released in September.

https://www.livemint.com/technology/tech-news/whatsapp-bring...

That option is kind of dormant in app I think and gets enabled from backend. I updated two phones at same time around a month ago and one of them did not have that option until 2-3days back.

> Unless new configuration options may appear without an update

That is indeed how WhatsApp seem to have been rolling out features recently.