Missing "Create New Application" button for v2 API Migration

We are currently migrating from v1 to v2 of Rose Rocket. Following the Getting Started guide for our service account use-case, I am attempting to create a new OAuth application as outlined here.

However, after navigating to Settings > API Settings > Applications, I do not see a button or option to create a new application.

Our user account has Admin permissions, so I should have the necessary access. Is there a specific feature flag that needs to be enabled for our instance to allow v2 OAuth applications, or is there a specific permission I might be missing?