atreya33 The option should be to the right of the Post Processing setting.
Having said that, the option isn't there at all for players who are still defaulted to DirectX 9. Is your game using DX9 or 11? You can check at the Main Menu, in the lower-right corner with the version number.
If you are using DX9, please check whether the game is using the Nvidia graphics card. Go into Documents > Electronic Arts > The Sims 4, open Config.log, scroll down about 30 lines, and let me know what GPU is listed there.