I also lost the ability to back up to a local drive! Which I was using as with backing up my 2 pcs the cloud ran out of storage space. Reverting to the older version is not a solution. As at some point it will be updated again.
I have same issue with the new Version of Norton 360V24
Removal of Local Backup to External Disk Facility in this release!
Norton Support said solution was to remove the new versionV24 and replace it with the old version V22 which they did on line on one of my Win 10 Laptops.
Two weeks later I did a Virus definition update which instigated an automatic upgrade back to V24 and no backup to external Disk!!!
Another call to Norton Support who told me the Option to backup to External hard drive had been removed in V24 and all Customers with V22 would be automatically updated to V24.
I also received an email from Norton informing me of this  but with no indication that I could no longer backup my 10 PCs or recover any of them from my existing backup disks.
I had just renewed my 10PC Contract for Norton 360 and Ultimate Utilities
- Surely Norton are in breach of contract!
Need some concentrated pressure from Norton User groups to get this issue fixed! 
Hi,
I have the same issue; Norton’s just updated in the middle of a local back up. Now I find that I can’t see how to re-instate a local back up with this new version of Norton.
Is this correct? You can’t have a local back up now?
Why drop this now and with no warning? Very odd.
The interface implies that you can have a local back up but it appears to be disabled with no way of instating it.
I just found this thread, as I have now uninstalled Norton 360 v. 24, and installed v. 22 from one of my other Laptop, and I am again able to backup to local NAS drive, and even better I was able to read from my old backup sets.
This new Cloud Backup ONLY is a no go for me.
Regards
Arne