Custom Field Update on Automated Rule>Action

Custom Field Update on Automated Rule>Action

I generated a custom field on the Potential field
I want to setup a specific value when a new Potential is created.

I went to the Automation section to setup a rule. 
However in step 4 I dont see the option for a field update. I just see an option for "Send Alerts" or "Assign Tasks".

Why can't I see an "Update Fields" as per the screenshot here: https://help.zoho.com/portal/en/community/topic/field-update-custom-field-on-automated-rule-action