Answered
Pen tools appears to be inactive; no shapes listed
When I press "P" i can draw the outline of a box, but it disappears when I release the mouse button.
Plus, I don't see the Pen tool options listed under Opacity.

When I press "P" i can draw the outline of a box, but it disappears when I release the mouse button.
Plus, I don't see the Pen tool options listed under Opacity.

As you are on the beta the masking feature has been completely overhauled.
Use object masking in Premiere Pro
Might want to update the beta to a more recent build.
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