I don't use iCloud, and I not only haven't got an iTunes Store account, I can't even figure out how to get to the iTunes Store.

I just re-d/l'ed iTunes 12.3.2.35, and nothing has changed, including my not seeing your "iCloud Status" option.

I've got to wonder if this is somehow related to iTunes Store/iCloud, but I don't really feel like getting involved with AppleCare over a totally unimportant issue, so I'll just follow the "Provide iTunes Feedback" link in the iTunes menu. (An Apple app with a built-in feedback link?)

Thanks for your input.

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In Memory of Harv: Those who can make you believe absurdities can make you commit atrocities. ~Voltaire