This article has an overview of the Patch Schedule Wizard, that has been in place as of version 11.0.
This is the current view:

To create Schedules with the wizard, from Patch Schedules go to Choose Action > New (Wizard).

This will take us into the Wizard, which is divided into four steps. First, the name and description are added:

Next, On Action, select between the following options:

There are also some suggested criteria, that upon selection, will create a SYSTEM label with the pre-defined parameters:


These labels can be removed but not edited. In order to edit them, they need to be duplicated beforehand.
Next, the Devices and Operating Systems are selected:

At the end, the schedule is selected:

After it's saved, this will take us into the view that is showcased at the start of this Article.
Patch Schedules can still be created with the classic view, the option "New (Classic)" needs to be selected instead of "New (Wizard)".