File History has two bugs which makes it a no go for me.
The options to automatically delete file versions older than a certain date or "as needed" simply don't work.
The option to clean up older file versions manually always produced a pop up error message and so also did nothing.
This means the only way to prevent the backup storage from eventually running out of space was to nuke the entire backup and start from scratch.
Of course Microsoft is no longer fixing non security bugs in their offline backup options so I rely on Duplicati now.