No ellipse tool

You must go read those docs about masking. It is far more powerful than before, but very different in how it works. Once you get it down it’s amazing.

But before you do, it’s beyond annoying. So go read the docs … 

Masking has changed

https://helpx.adobe.com/premiere/desktop/add-video-effects/create-masks-and-composites/rectangle-ellipse-and-pen-masks.html

https://helpx.adobe.com/premiere/desktop/whats-new/whats-new.html

https://helpx.adobe.com/premiere/desktop/add-video-effects/create-masks-and-composites/object-masking.html