It's equivalent feature is the "abandon transaction" option but it can't be used to remove unconfirmed transaction that's included to your mempool.
The option will not be clickable.

But even with zapwallettexes, other nodes will simply keep your transaction in their mempools.
Your current option is to enable "full rbf" which should enable you to create a replacement without the flag.
However, not all nodes and miners are configured with full rbf so the chance that it'll get confirmed before the previous transaction is quite low.
(so far, AFAIK, there's only one mining pool that's enabled full-rbf; and it's not oen the the big pools)