The Stencil Tool has not been include with CC Editor. This is similar to the "Drape Element" and "Snap Element" tools which is what you should now be using in CC Editor with Reality Meshes or Point Clouds.
We need also Stencil tool it works much better as drape. It is not clear why Stencil is considered as part of Textures/Material tools.
Best tool was in Bentley PowerCivil/Inroads using Surface->Drape Surface (+Drape Vertices only) ideally Stencil should work like it.
Enhancement 571353