The Localization settings are missing from the third level of the catalog (Elements - entitlement tree) in the CA Identity Portal (IP). This functionality existed in 14.1.
This is a regression. The functionality existed in 14.1 but appears to have been subsequently removed in 14.2\14.3.
Release : 14.4
Component : Identity Portal
The issue has been addressed in the 14.4 GA (General Availability) on-Premise (NOT vApp) release via hotfix "HF-IP-DE514061-20210927-0001.zip".
The fix is available upon request from Technical Support.