Server Version#: 1.18.2.2041
Was about to go check my logs and noticed that the option from the system tray has disappeared entirely.
v1.17.0.1709:

v1.18.2.2041:

Since the Plugins are obsolete at this point I should have expected them to remove it a long time ago. And removing it would have made a lot of sense back then.
However, this shortcut to PMS directory was quite useful instead of going through AppData\Local\Plex Media Server manually.
PMS is hosted and managed by us the admins and a shortcut to our logs from the system tray was the easiest way to open the folder. I hope this can be added back BUT linking it to the “Logs Folder” instead would be much better.