QWhen playing this follower's Fanfare ability, if I can't select an enemy follower on the field, can I still choose option 2 to have nothing happen?

ANo. If you can't select an enemy follower, you would be required to choose option 1. Likewise, if you can't select a follower that costs 3 play points or less in your hand, you would be required to choose option 2. If you can't make the prerequisite selection for either option, then you can't play this follower's Fanfare ability.