When I get to Computer\HKEY_LOCAL_MACHINE\SOFTWARE\Microsoft\Windows NT\CurrentVersion\Winlogon there is no Password option. All the choices below Winlogon are Alternate Shells, AutoLogonChecked, GPExtensions, Notify, UserDefaults, VolativeUserMgrKey.
Trying the netplwiz option there is no "Users must enter a user name and password to use this computer" option.
Larry
This is normal for the registry values to not be there by default. They would just need to be manually added when not.
Does this note from under the steps in option 1 for netplwiz apply to you?
If you turned on Require Windows Hello sign-in for Microsoft accounts (aka: passwordless sign-in), you will not see the Users must enter a user name and password to use this computer check box.
If your PC is currently joined to a domain, then the "Users must enter a user name and password to use this computer." box will not be available.