When creating a new installation there are no versions to choose from.
When activating the historical versions, those appear, but no more.
I can only select the four profiles I already had (newest release, newest developer update, Forge 1.12.2, OptiFine 1.8.9). Even when selecting one of them, for example the newest release, it doesn't say 1.16.5 in the version window. It's just empty.
Installing a new OptiFine version like usual does create a new installation.
Re-installing Minecraft or using the repair tool didn't help.
I've had this problem starting two days ago.
Thank you for your report!
We're tracking this issue in MCL-14369, so this ticket is being resolved and linked as a duplicate.
If you would like to add a vote and any extra information to the main ticket it would be appreciated.
If you haven't already, you might like to make use of the search feature to see if the issue has already been mentioned.
Quick Links:
📓 Bug Tracker Guidelines – 💬 Community Support – 📧 Mojang Support
📓 Project Summary – ✍️ Feedback and Suggestions – 📖 Game Wiki