Your string indicates that you want to call the static Format method on the String class, like so:
_userOptions.DisplayMessage(string.Format(
"\nFile Generated: {0}\nTime Elapsed: {1} minute(s) {2} second(s)\n",
BinaryWriter.GetBinaryFileName(filePath, Convert.ToInt32(logSelected)),
timeSpan.Minutes, timeSpan.Seconds, timeSpan.Milliseconds / 10));
However, this will give you a problem, as you have more parameters than you have placeholders in the string.
Additionally, given comments regarding the use of "\n" as a new line delimiter, unless you have a specific need for that specific format (and it does not seem that you do, you aren't indicating you are writing to a file, or to something where the data is going to an external system), it's better to use Environment.NewLine, which you can use like so (note, this still does not address the fact you have more parameters than you do placeholders:
_userOptions.DisplayMessage(string.Format(
"{0}File Generated: {1}{0}Time Elapsed: {2} minute(s) {3} second(s){0}",
Environment.NewLine,
BinaryWriter.GetBinaryFileName(filePath, Convert.ToInt32(logSelected)),
timeSpan.Minutes, timeSpan.Seconds, timeSpan.Milliseconds / 10));