Option to allow 3rd party cookies not available in Safari 14.0.3

While using Safari 14.0.3, I keep receiving error messages when I try to open a 3rd party video made available on a school website that uses Blackboard as its platform. The error message is prompting me to allow 3rd party cookies. In Safari>Preferences>Privacy, there is no longer an option to allow 3rd party cookies. I am running BigSur 11.2.3. How do I allow 3rd party cookies in Safari 14.0.3?
Option to allow 3rd party cookies not available in Safari 14.0.3
 
 
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