Q. Why is the TPM option not available in my Windows Server 2016 Hyper-V hosted VM?
A. The virtual TPM (vTPM) is a feature of the Windows Server 2016 VM configuration version. If you migrated a VM from a previous version of Hyper-V you should run the Update-VMVersion to update the VM to the 2016 VM configuration version. If this is in a cluster make sure if the cluster was upgrade the cluster has been switched to Windows Server 2016 functional level which will allow the upgrade of VMs to the 2016 VM configuration version using the Update-ClusterFunctionalLevel cmdlet.