On top of what vmniels says. Can you check if you have a trial license installed? The synthetic fulls is only in the paid version. VAW Free will remain and will have the same functionality as VEB 1.5, including encryption that is added. That will remain free. The paid versions are aimed to have better scheduling, better application aware processing for server workloads and the ability to backup to a cloud provider over the internet (workstation) and some more differences.
But as Niels says, we will remain having a free version. And I would not stay on the older version simply because it has additional bugfixes, additional stability improvements and the already mentioned encryption. But check what license you are using