Hi @Tariq Ahmad ,
thanks for the hints.
Currently I cannot see "Generative AI" in Acrobat Pro's Preferences:

Found a hint by Steve Werner, that this feature is only available (visible) under the following circumstances:
"The Generative AI features require you to turn on the “New Acrobat” feature set under the View Menu."
Well, now that I enabled the "New Acrobat" feature set under the View Menu and restarted Acrobat Pro, I still cannot see the new preference entry "Generative AI". Instead I see a new message, but only after I opened a PDF, that after a restart "AI Generation" should be available:

So well, I hit the button "Restart Acrobat", and suddenly the new preference "Gereative AI" is available:

Enabled the feature Generative AI and now I have access to AI Assistant when a PDF is open:

Thanks,
Uwe Laubender
( Adobe Community Expert )