Anywhere Backup - Optional Setting - "Keep Up To"

What is the significance of  " Keep Up to X additional versions of file"

I have only a 2 TB Backup drive and I have 1.4 TB data to be backed up. I move files regularly at the rate of 50~75 Gb a week.Is the following setting is any sort of danger for the capacity of the drive ?

If yes then what is the best value to be kept in that, pls advice.

Also,

If I change the 2 to 0 / remove the optional settings what will be the impact.

Do I need to delete the backup and recreate it  to avoid issues ?

Bill …where r you ? Enjoying Holidays ? Please help…in my query…

The additional version, means the number of times the program will backup a file when you make any type of change to it, for example a word document or a picture you edit in some way.