Does saving a version history capture the OLD components as well?

Let’s say you have a

→ design file X
pulling from
→ design system file for components called Y

  1. You save the history version 1 on file X.
  2. You then make changes to the components on Y.
  3. It updates on history version current on file X.
  4. Eventually, you go back to history version 1 on file X to see what the flow originally looked like

Will version 1 on file X have the old components from Y or locally even within version 1 X file? ie will it capture exactly what was done then?