Your screenshot shows two layers selected in the timeline, no menus, no popups, and one comp selected in the Project Panel.
If you are trying to create a comp from the selected layer and the Layer/Precompose menu is grayed out try using the keyboard shortcut Ctrl/Cmnd + C.
If you are trying to create a composition from the selected assets in the Project Panel and the File/New Composition From Selected menu is grayed out try using the shortcut key Alt/Option + \
If none of that works, try resetting your preferences by renaming the file found in the Preferences/General tab at the bottom where it says you can browse to the file, or close AE and hold down the Shift + Alt/Option + Ctrl/CMnd keys while opening the program by clicking on the program icon.
If none of that works, uninstall AE using the Creative Cloud app, then re-install.