This policy setting lets you hide the list of previous versions of files that are on local disks. The previous versions could come from the on-disk restore points or from backup media.
If this policy setting is enabled, users will not be able to list or restore previous versions of files on local disks.
If this policy setting is disabled, users will be able to list and restore previous versions of files on local disks.
If this policy setting is not configured, it will default to disabled.