That line has been there since this commit:
https://github.com/lualatex/luaotfload/commit/00fd07c628af41b0709d25fd00805385be561459#L3R202
and is definitely part of the v2.3 zip. Something’s off with your
install. You can check whether you’re running the correct version
with luaotfload-tool --version.
mkluatexfontdb 2.3
database version 2.207
In fact other than the statements about where the font database will
be written to, runing luaotfload-tool --help shows me nothing else.
At all.
It should print 59 lines of usage info.
I tried again. It doesn't. Only the 2 lines I reported earlier.
If I remember correctly, Windows distributions use binary
wrappers for Lua scripts. Maybe the one for luaotfload-tool.lua
points to an old version of the file?
Alas, only one version on the machine.
About all I can do at this point is try a full re-install, and see what
happens. I can install as a user (i.e., install 'just for me'), or as
admin (i.e, 'install for everyone').
While this doesn't take heroically long, it takes longer than I have
time for today.
What you/we need is someone else with a MiklTeX install under Windows 7
(Pro, if that matters), to see if they're having the same problem.