Hi there, thanks for your reply. Yes this is somewhat new, maybe a few months, the reason this had to be disabled is due other technical changes in the editor.
This may be re-introduced in the future, but I cannot give a timeline on that yet. For now the link block will need to be set in the designer and only text links and buttons can be edited in the Editor.
I have let our team know that this is important for your clients, when I have more info, I will respond back with new info.