Which of the following does not evolve oxygen during photosynthesis?

Which one of the following categories of organisms does not evolve oxygen during photosynthesis?

Analogy type question:
$(1)$ Biosynthetic phase : Based on $CO_2$ and $H_2O$ :: Phosphorylation : ......
$(2)$ First product of $C_3$ cycle : $PGA$ :: First product of $C_4$ cycle : ......

Statement $P$: During the dark reaction of photosynthesis,ketotriose is synthesized.
Statement $Q$: The sugar present in the structure of $ATP$ is an example of a ketopentose sugar.

$I.$ Initial $CO_{2}$ acceptor
$II.$ Extent of photorespiration
$III.$ Enzyme catalyzing reaction that fixes $CO_{2}$
$IV.$ Presence of Calvin cycle
$V.$ Leaf anatomy
Which one does not differ in a $C_{3}$ and $C_{4}$ plant?

$CO_2$ is formed in all of the following except: