It's still there, it's just difficult to know when it will appear. Sometimes it takes one more tap than expected, or sometimes one must deselect a word and tap again, or change focus away and back again. Very sloppy UI.
If you tap while a word is selected, it won’t appear. If you tap on the cursor while a word isn’t selected, it will appear.
Also for some reason autocorrect seems to have gotten a lot worse. It has become nearly impossible to type a grocery list without all kinds of annoying wrong corrections.