You can specify the check out page options using this menu.

Please follow the given steps to change the appearance of the WooCommerce checkout page:

• Go to Appearance> Customize> WooCommerce> Checkout
• Select the Company name field option. You can keep the company name field optional, required or hidden.
• Select the Address line 2 field. You can make the option required, optional or hidden.
• Check the option to highlight the required fields on the check out page
• Select the Privacy and Terms and conditions page
• Enter the Privacy Policy and Terms and Conditions text to be displayed on the check out page
• Click Publish