iMovie 10.3.3 is missing adjustment options

On a previous version of iMovie I was able to add picture-in-picture and blur out faces or license plate numbers with an overlay. I cannot find any such "advanced options" or "adjustments" in iMovie 10.3.3. Selecting a video clip in my project does not produce a new icon for adjust or overlay or whatever, as people have said is the way this version operates. I am running Monterey v 12.4 on an Intel-based MacBook Air and downloaded iMovie via the app store. There is a "Paste Adjustments" option under Edit in the menu, but these are all grayed out and I've been searching for a solution for a couple of hours but am just perplexed. (screen capture below)