In the previous version, there was a backend editor where you had those options. But in this new version (v4), we have removed the backend editor completely. There is only the Frontend editor here now. SP Page Builder 4.0 has a completely new architecture and we can not add backend edit support to it. However, at JoomShaper, regardless of any challenges we face, we always put our customers first. That’s why we have decided to give regular updates to the 3.x series as we have been for at least the next three years. If you want you can use the previous version 3.8.8. SP Page Builder 3.x series will continue to receive security patches, updates, and compatibility support for at least the next 3 years. In the meantime, you can test version 4 and get familiar with it for your ease of use.
And, if you want you can check more about the Frontend editor of the new version of SP Page builder in the documentation link below:
https://www.joomshaper.com/documentation/sp-page-builder/sp-page-builder-4/front-end-sidebar#span-style-font-weight-400-the-first-look-span