Can't display SVG as <svg> tag instead of <img>

Hi, in the project description it says:

Features (beyond the main functionality):

• Ability to select width and height of the image in formatter settings
• Ability to render svg image as <img> or <svg> tags.

However in Drupal 7 (I didn't try Drupal 8), there is no setting to display the SVG as an

tag. In the formatter, if I choose "Image (SVG Support)", I can choose the width and height but it still renders as an image. Is there a setting somewhere else that needs to be changed? Or is this a bug? Thanks