Hi, MichaelMacLellan
Thanks for posting in the community.
From what I understand, you need a license to enable the full experience, which includes "Create a new workspace".
Manage Copilot Pages and Loop components in your organization | Microsoft Learn
Links to information about the specific licenses mentioned: Loop access via Microsoft 365 subscriptions - Microsoft Support
The new license includes: Loop workspace creation, creation and integration of cross-Microsoft 365 Loop components, Copilot page creation and integration, Outlook creation and integration of Loop experiences, Teams creation and integration, and other capabilities. For details, you can refer to the link above.
Please feel free to let me know how it goes.
Best Regards, Zain.M - MSFT | Microsoft Community Support Specialist