Answer
This is a deliberate, acknowledged gap rather than an oversight or bug — R&D chose to leave the existing SQL-based Quick Report types as the available option in IFS Cloud rather than porting over Query Builder as-is, pending development of a proper Cloud-native replacement for that visual query-building experience. If Query Builder-style report authoring is a hard requirement, check current release notes for your specific IFS Cloud version, since this gap was actively being worked on rather than considered a permanent limitation.