If you're missing the 'Update local Templafy apps' option, then it is not available when right clicking on the Templafy icon in the Windows system tray.
When you right click on the icon, you should see this menu:
If you instead see the menu on the screenshot below, it's because the TemplafyUpdater has been installed without the parameters. (You can find the parameters in the .bat file that was delivered with the .msi package)
To amend this, un-install the TemplafyUpdater and install it with the parameters.
Additionally, you can also add the parameters through a PowerShell script or similar.
The parameters for the TemplafyUpdater on a 64-bit Windows OS are stored in the following registry entry: [HKEY_LOCAL_MACHINE\SOFTWARE\Wow6432Node\SkabelonDesign\SDUP]
For a 32-bit Windows OS, the path will be:
Missing Word Startup folder:
Office must be installed and Word stared once before installing the TemplafyUpdater