Dithering option seems to be working in the opposite way.
Tried both dithering options (i.e. with "Enabled" and "Disabled") through
File > Save As > Convert Sample Type > Bit Depth > Advanced > Dithering.
But the saved output file with the 'Dithering' option looks like working in the opposite way (i.e. dithering is disabled when "Enabled" is selected and vice versa).
Notice that I’m currently using Adobe Audition ‘Build 188.8.131.52’ (the previous versions look the same though) and tried 48KHz/16-bit generated tone with extremely small gain (-90 dB) just to see the effects of dithering more clearly.
Close/Reopen the file is required to check out the changes only when Dithering is “Disabled” (but actually dithered). No need to reopen it if “Enabled”.
And the last setting is gone (indicating "Disabled" always) when I revisit the menu again (just to make sure which option I've selected, right before saving it finally) which is not pretty intuitive and confusing.
Hope the GUI get revised, if applicable.
Just to be clear, see attachments why I reached to conclusion that it's working in the opposite way.
You can refer to my update in the community as well.
Posted the same query in the community: