It is there:
.config - OpenWrt Configuration
> Network > Routing and Redirection βββββββββββββββββββββββββββββββββββββββββββββββββββββββββββββββββββ
ββββββββββββ tc............................................... Traffic control utility βββββββββββββ
β CONFIG_PACKAGE_tc: β
β β
β Traffic control utility β
β http://www.linuxfoundation.org/collaborate/workgroups/networking/iproute2 β
β Russell Senior <russell@personaltelco.net> β
β β
β β
β Symbol: PACKAGE_tc [=y] β
β Type : tristate β
β Prompt: tc............................................... Traffic control utility β
β Location: β
β -> Network β
β -> Routing and Redirection β
β Defined at tmp/.config-package.in:87945 β
β Selects: PACKAGE_libmnl [=y] && PACKAGE_librt [=y] && PACKAGE_libssp [=n] && \ β
β PACKAGE_libpthread [=y] && PACKAGE_kmod-sched-core [=y] && PACKAGE_libc [=y] β
β Selected by: MODULE_DEFAULT_tc [=n] && TARGET_PER_DEVICE_ROOTFS [=n] && m && MODULES [=y]\ β
β || PACKAGE_qos-scripts [=n] || PACKAGE_sqm-scripts [=y] && !LINUX_3_18 [=n] || \ β
β PACKAGE_luci-app-splash [=n] && PACKAGE_iptables [=y] β
.config - OpenWrt Configuration
> Network > Routing and Redirection βββββββββββββββββββββββββββββββββββββββββββββββββββββββββββββββββββ
βββββββββββββββββββββββββββββββββββββ Routing and Redirection ββββββββββββββββββββββββββββββββββββββ
β Arrow keys navigate the menu. <Enter> selects submenus ---> (or empty submenus ----). β
β Highlighted letters are hotkeys. Pressing <Y> includes, <N> excludes, <M> modularizes β
β features. Press <Esc><Esc> to exit, <?> for Help, </> for Search. Legend: [*] built-in [ ] β
β excluded <M> module < > module capable β
β βββββββββββββ^(-)βββββββββββββββββββββββββββββββββββββββββββββββββββββββββββββββββββββββββββββββ β
β β < > genl.................................... General netlink utility frontend β β
β β < > igmpproxy....................................... Multicast Routing Daemon β β
β β < > ip-bridge..................... Bridge configuration utility from iproute2 β β
β β < > ip-full................................... Routing control utility (Full) β β
β β -*- ip-tiny................................ Routing control utility (Minimal) β β
β β < > lldpd............................... Link Layer Discovery Protocol daemon ---β β
...
β β < > sslh................................................. SSL/SSH multiplexer β β
β β -*- tc............................................... Traffic control utility β β
β β < > tcpproxy.................................. IPv4/IPv6 tcp connection proxy β β
β β < > vis........................ visualization server for B.A.T.M.A.N. layer 3 β β
β
And yes, tc is part of the iproute2 sources, but it is quite normally a separate package