There is no longer an ellipse tool, but it is very easy to create an ellipse. First draw a circle at the desired center point. Then triple-click the circle to select the Face and all the Edges. Now select the scale tool and resize either the length or width by dragging the “handle” in one or the other side of the scale tool rectangle. Once you start to drag a handle, you can type either a scale multiplier or an exact size into the VCB (you will need to append a units indicator to the exact size so that SU knows it is not a scale factor).
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