How to enable 4k on external display on an Acer Nitro 5 AN515-44?

I have Acer Nitro 5 AN515-44 (IN-NH.Q9NSI.005). I also have a 4k external monitor at 60 hz (Lenovo N27p) and a Monster brand HDMI Premium Certified HDMI cable (Model: MTESHD4K1.5M) supports 4k at 60 hz. This model of Nitro 5 do not have C-type DP port. So I am using HDMI port. By default the laptop (Windows 11) is pushing Full HD to the monitor. I am trying to change in the resolution in Window's Display setting from FHD to 4k, but there is not option of 4k. How can I do that?

Question by Rapid on Super User, licensed CC BY-SA. We show a short excerpt and link to the original thread as credit.