You should find that your Blackboard Ultra course is already provisioned to use Panopto. But as the design of your Blackboard course has changed, it can initially seem that Panopto is not available in your course.
You will find, though, that if your course is not yet provisioned/enabledto use Panopto, as soon as you find and load it in Blackboard, it will automatically provision your course for you.
To find or enable Panopto on your Ultra course, first go to your course and then expand the ‘Resources and support materials‘ section.

Once that has expanded, you will then need to scroll down the page a bit, where you will see ‘Panopto Recorded Sessions‘, which you can now select.

Panopto will now load on your screen as normal. This will also be the point at which Panopto is automatically provisioned on your course.
