UPDATE: not an issue, it needs to be scrolled.
I was under the impression that timelapse mode was included with this latest FW update.
I did a quick test, RAW only is present, Master shot is present (it makes a short preprogrammed 2 min video combining several M2P modes, such as dronie, rocket, etc.), probably other things as well, but I could not find the timelapse.

I'm on M3C + RC Pro. What am I missing?

I do not have RC Pro. But I can mention in RC-N1 hyperlapse is visible to me in following versions:
DJI Fly Android App 1.5.4
Mavic 3 01.00.0400
RC 04.13.0400

NGC Posted at 12-10 12:12
Is the Hyperlapse at least in 4K? I remember on the "old" M2P it could only render the final file in 1080p...

its in 4K :-)

Montivette Posted at 12-10 12:06
I do not have RC Pro. But I can mention in RC-N1 hyperlapse is visible to me in following versions:
DJI Fly Android App 1.5.4
Mavic 3 01.00.0400

Oh man, I'm so stupid, it was there below, I just didn't realize you need to scroll. No visual clues...
Yes, it's there, phew!

Not Timelapse Hyperlapse slightly different.

hallmark007 Posted at 12-10 12:56
Not Timelapse Hyperlapse slightly different.

I meant Hyperlapse. It does time lapse, no?

I interpret the terms as follows:
Timelapse: Moving through time (generally stationary camera in one place)
Hyperlapse: Moving through time and space (A timelapse where camera is moving forward or backwards or sideways while capturing the timelapse versus being in a static location  

So perhaps technically if the Mavic 3 is holding in one spot during the "hyperlapse" most would consider it to be a "timelapse." If moving in any direction during capture then most would consider it to be a  "Hyperlapse." Fly App chose term hyperlapse as it is assumed most people will be creating a motion timelapse where drone is flying in some direction.

DarthSLR Posted at 12-10 13:01
I meant Hyperlapse. It does time lapse, no?

Yes it does timelapse but its not there yet.

Montivette Posted at 12-10 13:10
I interpret the terms as follows:
Timelapse: Moving through time (generally stationary camera in one place)
Hyperlapse: Moving through time and space (A timelapse where camera is moving forward or backwards or sideways while capturing the timelapse versus being in a static location  

I understand I was referring to the feature in general