GN4 can optionally create new versions of the modified objects (gn_VersionTable).
The creation of the new versions is determined on the global level or on the folder level (versioning rule level).
Use the versioning global setting if you have only one rule; use the versioning on the folder level if the versions need to be related to folders.
See
Configure versioning on the global level
Configure versioning on the versioning rule level
About initial and last versions
Old version access permissions