I presume you had the Select Lifetime Wish option available to you before you installed Late Night. What you can do is uninstall LN and run Ambitions to see if the option is there.
If it is, you may install LN again, and run the game without updating, to see if the option is still there. If it is, you may patch and see if this time it didn't get removed. If it did, the problem is in the patch and you should probably just play without patching it. If it didn't, the reinstallation fixed it.
If it is not, stuff will get more complex. You'll have to check your skuversion.txt files, located by default at C:\Program Files\Electronic Arts\(each of the TS3 EP/SP folders have their own skuversion.txt file)\Game\Bin. This will let you know what version each of your games is. For further help in this area, post a reply including which version each game you have installed is at.