Your screenshot is the standard rather than the Advanced menu. There should be an additional menu option right down the bottom which isn't visible in your picture. But maybe you just didn't include it, or perhaps you downloaded vlc from the Windows Store rather than the official vlc site at
https://www.videolan.org/
The Windows Store version doesn't include the many of features in the official version.
To get to the Advanced menu you need to click the "All" radio button I've indicated with a red arrow in this screenie.
(click to enlarge)