Version 3.5.8
The When Finished options are a part of the Playback settings.
When Finished
You can control what happens when the media finishes playing (when it reaches the Out Point)
You have 3 options:
Loop -- the media will loop back to the In Point
Hold -- the media will simply stop and show the last frame
Remove -- the media is removed from Live
Audio-only media
For media with no video, the Hold and Remove are effectively the same option.