Option to Embed ‘Video from SharePoint’ in PowerPoint Presentation missing

We are storing videos on SharePoint Online (in an Asset Library) and would like to embed them in a PowerPoint presentation.

We expect to be able to use the ‘Insert Online Video’ option in PowerPoint 2016 to do this, but for almost all of our users this does not work: there is simply no option to select ‘Video from SharePoint’, see this screenshot (in Dutch):

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What we would expect to see is the following (this is working for one of our users, even though he also uses Windows 10 and PowerPoint 2016, just like our other users:

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