Updated the game and created a brand new world to explore the new caves but none would generate what so ever after exploring for at least 15 minutes in a creative map.
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Thank you for your report!
We're tracking this issue in MCPE-121708, 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.
Please also note that while the blocks for the new caves have been added, the new lush caves themselves have not been added yet.
If you haven't already, you might like to make use of the search feature to see if the issue has already been mentioned.
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This is a duplicate of MCPE-121708