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Updated Jan 26, 2021
Version 10.0
Blog Post
I have the same issue, I put in a ticket to Microsoft support and they said this:
This is Jacki with Office 365 Premier Support. I am following up on ticket #14929384 regarding the Permissions policy not yet appearing in your TEAMS admin center.
As far as I know this new feature has not yet rolled out to all of the tenants and I can confirm that it is not yet available in any of my test tenants. I do have my organizational profile set to "Targeted release for everyone" and I have not yet received this new feature either. If you have not yet set your targeted release options I would like to recommend you do to ensure you are getting the updates as soon as they are available.
https://docs.microsoft.com/en-us/office365/admin/manage/release-options-in-office-365?redirectSourcePath=%252fen-us%252farticle%252fOffice-365-release-programs-3b3adfa4-1777-4ff0-b606-fb8732101f47&view=o365-worldwide
I know you were hoping to have an exact date on when this feature will hit your tenant, but unfortunately that is not possible. I know you are looking forward to using this new feature so please make sure you do have the release options set up. As an update gets closer to rolling out, it is communicated through your Office 365 Message Center.