I believe that is only applicable for external displays, and I don't see the rotation option on my M1 MacBook Air, even if I Ctrl+Command click
https://discussions.apple.com/thread/255072447?sortBy=rank
FWIW, it's easier to rotate the view in something like Acrobat, and then you don't have issues w/ the cursor direction.
Edit: Just tried rotation in the built in MacOS Preview app, (Command+R or Command+L) and works really well. You do have to set the View to Single Page, and rotate each page separately (it does remember which pages were rotated), but other than that it's great.