Bug: text property unavailable on text layer (created in old file)

I’m not sure if this is some niche bug or we’re supposed to do something when working with an older file, but I was updating a pretty old file about 1-y-o and when turning a frame with nested items into a new component I couldn’t find the option to add a text property to my component when a text layer was selected. I looked it up and didn’t find anything similar.

I ended copying over all the elements outside of it and creating a new component that’s configured the same and the text property option appeared. It could just be a coincidence that the first one was an old layer but it’s the only difference I noticed.

(P.S. UI3 is annoying, tried for a couple months and it never became as intuitive as the original UI over a week of use...)