In my instance of PS CC v20151209 there is no
Select and Mask option for
Quick Selection Tool. Is this a buggy software or is it really missing in this version of PS? Because everywhere in video tutorials the option exists.
It seems that another version of Photoshop is used in those tutorials you mentioned. I've compared versions CC2014 and CC2017. Yes, these versions have different level of control referring to this tool. CC2014 version has a "Refine Edge" option only but later version has "Select and Mask" instead with advanced options. Please watch a short screencast with a comparison of these 2 versions:
The screenshot with advanced setting from version CC2017 is below.
Hope this helps :)