The feature/subclass/race you are referring to is not part of the D&D 5th edition SRD and will need to be unlocked from the marketplace before you can use it on D&D Beyond.
Note that is all you need at the moment is circle of the moon, you can just buy that subclass and not the entire PHB. If you decide you want the whole PHB later, the cost is reduced by whatever you've already spent on elements from it.
Is there a way this can be selected?
The feature/subclass/race you are referring to is not part of the D&D 5th edition SRD and will need to be unlocked from the marketplace before you can use it on D&D Beyond.
D&D Beyond can be used for free and contains information from the following "free to use" sources published by Wizards of the Coast: D&D 5th edition SRD, D&D 5th edition Basic Rules, and Elemental Evil Companion.
Content from other sources, such as the Player's Handbook, Dungeon Master's Guide, or Monster Manual, will need to be purchased from the Marketplace or accessed via another user sharing content with you via their Master Tier Subscription.
If I subscribe to the DM monthly, does that unlock all the content?
No, the subscriptions do not unlock any content.
If I have the physical books, is there a code or something I can enter to unlock the digital editions?
No, the only way to unlock the non-free content on DDB is with a purchase from the Marketplace.
Note that is all you need at the moment is circle of the moon, you can just buy that subclass and not the entire PHB. If you decide you want the whole PHB later, the cost is reduced by whatever you've already spent on elements from it.
Trying to Decide if DDB is for you? A few helpful threads: A Buyer's Guide to DDB; What I/We Bought and Why; How some DMs use DDB; A Newer Thread on Using DDB to Play
Helpful threads on other topics: Homebrew FAQ by IamSposta; Accessing Content by ConalTheGreat;
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Oh yeah, or if you have the books physically already, allow you to scan the barcode of them and open it up that way.
Unfortunately the barcodes are not unique per book and there's no way of proving ownership of the physical books that could be reasonably managed.
There are a number of lengthy debates on this subject on these forums, which can be found fairly easily.
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