Is the right click context menu still available for Google Backup and Sync on Windows?

I solved this problem using a method I found on this thread on Google product forums.

Register the context menu DLL manually by running Command Prompt in administrator mode and call:

regsvr32 "C:\Program Files\Google\Drive\contextmenu64.dll"

Then restart Backup and Sync.

Somehow the update from Google Drive to Google Backup and Sync disabled this and registering it again solved the problem.