Today's WWDC keynote event has come to an end, and Apple has begun seeding new software updates to developers, including tvOS 15, the newest version of the tvOS software designed to run on the Apple TV HD and the Apple TV 4K.
Developers can download the new tvOS 15 beta by downloading a profile onto the Apple TV using Xcode.
tvOS 15 is limited to developers at the current time, but Apple will provide a public beta of the software to public beta testers later this summer. tvOS 15 will see a release this fall alongside iOS 15, iPadOS 15, macOS 12, and watchOS 8.
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EDIT: Figured it out. Turn off get beta updates and it shows up.
For all owners of Apple TV with TVs, Projectors, AV Receivers and Soundbars without HDMI-CEC or incompatible HDMI-CEC, they need the new Power button to send IR for On and Off and IR for switching HDMI input to Apple TV.
Shouldn't be that hard for Apple to add learning IR for the Power button they are already doing the IR Learning for Volume + - button and Mute button. Settings App > Remotes and Devices > Volume Control. Select Learn New Device…
I realize that learning IR for Power On/Off requires you to cover up your TV/Projector IR sensor or have the Apple TV positioned so it can learn the IR for Power On and Off without the TV/Projector receiving the IR and turning off in the middle of learning.
To avoid the problem of a TV or projector turning off during Apple TV learning the Power On Off IR codes, Apple could do it with the help of an iPhone like they now do for Color Calibration since tvOS 14.5. Settings > Video and Audio > Calibration > Color Balance.
The new Power button should be able to control both a TV (or Projector) and Soundbar (or AV Receiver) via IR and switch the HDMI input to Apple TV. Some devices require discrete Power On IR and discrete Power Off IR, instead of Toggle Power On/Off IR. Apple needs to support Learning both types. (for example, to turn off many projectors you need to send discrete Power Off or send Toggle Power On/Off IR twice).
Apple advertises IR support for Power On/Off:
On the Apple TV 4K Tech Specs ('https://www.apple.com/apple-tv-4k/specs/') page it states “Control your TV or receiver via IR or CEC”. With footnote (3) ('https://www.apple.com/apple-tv-4k/specs/#footnote-1'): "Powering on and off, switching input to Apple TV, controlling volume, and mute.