What you're seeing is a property page of the DirectShow driver, not a menu generated by any individual capture program. It seems to be an option that Microsoft decided some device manufacturers would want to use in their drivers, but most don't bother and therefore checking the box just does nothing.
You would think they would bother to grey-out the checkbox to make it clear that the option is unavailable, but apparently not.
The manual for the ViewCast Osprey capture card series says
'This field is a DirectShow feature that is not implemented.'
A changelog for the Philips SAA713x BDA Driver says
'General : On the analog video capture filter the "VCR Input" property is supported. If it is active, the incomming signal will be adapted if a non standard signal has been detected.'
The manual for Pinnacle Studio 12 claims
'This option, which is available with some analog capture devices, is available to help deal with the video instability that can arise from using old playback equipment – not necessarily but typically a VCR – or worn videotape. When the option is activated, capture will be more tolerant of A/V synchronization problems in the incoming signal.'
A manual for a Dazzle product claims
'The VCR Input setting provides you with the option of increasing the DV Analog I/O's tolerance for low quality video captures. For example, if you enable VCR Input, DV Analog I/O will apply more effort when attempting to capture video from old VHS tape that was stored on the shelf for a long time.'
May as well check it just in case it helps with sync...