The text field will appear on the Stage and Timeline where you can start typing subtitles.
On the Timeline, the subtitle text object is part of a new Subtitle clip called 'Subtitles'. All subtitles will be part of this subtitle track on the Timeline.
To add more subtitles move the red Playhead marker to a new spot in the Timeline and click the ‘Add subtitle’ button below the Timeline:
When your subtitle track is selected, you can change the properties of your subtitles in the Properties panel top right. You can adjust the font, size, (background) color, outline and more. These properties apply to all subtitles in the track.