Version history in Figma Make

Hey ​@Himanshi Sharma! Our product team has confirmed this is currently the intended behaviour. At the moment there isn’t an additional file level version history available, which is why the "Show version history" option is disabled. 
 
In a Make file, “versions” refer to the different builds of your project rather than the file itself. To access earlier work, you can review the versions shared in the AI chat and use the restore version option.
 
However, I can certainly understand how having a more detailed file version history with timestamps, similar to what’s available in Figma design, would be helpful. I will be glad to share this feedback with our team internally.

Let me know if you have any further questions, happy to help!