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