Yeah, it is still there, and there is a pretty clear cut logic for when it will appear.
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.
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.