CARES Act (passed March 2020) reinstated 5-year NOL carryback for all 2018-2020 NOL's.

Election to waive carryback (if desired) can be made on 2020 tax return, referencing Rev Proc 2020-24.

Proseries is still referring to old law. Hopefully they will update soon, and add all possible 172(b)(3) elections in the 2020 software (such elections are available in Proconnect Online and, I presume, Lacerte, but Proseries has still not been updated).