Related to #63666.

When the homepage is set to display a static page, if you want to create a page to display latest posts you must exit the site editor and configure the reading settings which is quite disruptive.

In such cases, the UI might conditionally surface an option to create a page for the blog within the site editor:

If the user selects the option to create a blog, the new page is created as normal, and automatically set as page_for_posts.