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I believe certain formatting options have changed locations with the release of 10.4 due to some of the new dashboard functionality.
You should be able to select your text box on the dashboard and select the "Layout" tab in the top left of the view (see screenshot) to add a border that way.
Thank you sir! I was not able to find any documentation of this new method, but I knew the formatting options had changed a bit. Hopefully this will help others as well.