This enhancement is a part of the July 24, 2021 release.
When adding a new page, by default the setting to “Always Use Page Title for Menu Text” is now checked and the Menu Text field is beneath Title. This change was made to ensure Authors and Publishers are more easily able to keep Page Titles and Menu Text consistent and up to date. Unchecking this setting will still allow unique shorter Menu Text for pages when needed. If unchecked, only Owners and above with permission to the Page Properties tab are able to change Menu Text, as detailed in this Help Center article.