As a meeting host, if you do not see the CC (live transcription) button, start by making sure you are using the Zoom Client or the Zoom App, and not accessing the meeting through your Web browser.
Once you've done that, check your Zoom profile settings to make sure that Close Captioning and Live Transcription are enabled. You can do this by logging into your Zoom account and going to Settings...
...then going to In Meeting (Advanced) and enabling these options, after which you should be able to set and enable Live Transcription in any meetings you host in the future.
Once you do this, participants will see a CC button in their Zoom interface, which they can use to turn on subtitles and view a live transcription.
Notes: