My version of Lightroom Classic does not have the color grading circles. It also shows that my mac isn't compatible with the update for Lightroom Classic. I have a Macbook Pro with OS 10.12.6
And I looked and there isn't an update for my mac either, so I'm not sure why I don't have the latest version?
You need Mac OS 10.14 or later to upgrade LrC
Full version operating system updates do not show up in the normal update window. You have to go to the app store app and search for the version you want to install. Big Sur is the latest but might not be compatible with your Mac if it is older than from 2013. In that case you want to install Catalina. If compatible with Big Sur, that is generally the way to go.
If your MacBook can run on a more recent version of MacOS, then you should see this if you go to System Preferences - System Updates.
Not on 10.12, Sierra still used the App Store for updates.
OP, which Mac model do you have (what year.)
Please post specifics about your MAC. You can get this on the MAC via About THis MAC