Product Options and Inventory Tracking

I am currently using CS-Cart v4.16.2.

I am trying to add color as an option to my products but I also want to track separate inventory for all the color variants of the product.
I am trying to follow these instructions:

But when I create a global option for color, I cannot see a checkbox for inventory tracking. Is there something that I am missing, or doing wrong?

Please see the image below:

Options are not used for inventory tracking since introduction the Product Variants add-on.

Product Variants uses features to generate variants.

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