The button got renamed as the Sound Data concept is not useful anymore, we are generating SoundBanks specifically. To generate your SoundBanks:
- In Wwise Pickers: If you have WAAPI enabled and your Wwise launched, pressing the Generate button will Generate SoundBanks through Wwise Authoring.
- In Wwise Pickers: If you don't have WAAPI enabled, or if your Wwise is not launched, pressing the Generate button will Generate SoundBanks through the Wwise Console application.
- Obviously, you can use Wwise Authoring to Generate SoundBanks directly.
- You can call WwiseConsole to Generate SoundBanks in your scripts.
- You can still call the Unreal Integration commandlet to Generate SoundBanks through your application's editor executable, but that's an avoidable level of indirection.
Other than the optional platforms and extra options in the WwiseConsole version, and the User Preferences for Authoring, there should be no difference in result.