Using New Outlook on Windows for personal email, calendar, and contact management
At the moment, the new Outlook does not support offline access, so I guess that no Send & Receive options are needed for now. Offline support does appear to be on the list of things to be added in future releases; see https://support.microsoft.com/en-au/office/getting-started-with-the-new-outlook-for-windows-656bb8d9-5a60-49b2-a98b-ba7822bc7627.
This is not offline. This is the desktop version of outlook that they are beta testing. It does not have the send/receive feature.