Hello,
Theme options > WooCommerce > Product catalog > Default Product Sorting
To mark a product as featured go to Dashboard > Products. Find the product you would like to feature and click the Featured Star. Featured products will have the star icon filled in – https://gyazo.com/e798a91b194e38f19d31f7d6ec8430c1
On a new page you can add the Products element and select the Featured type of products to show
Regards