You're looking in the wrong spot: https://info.arxiv.org/help/replace.html#same-day-edits-do-not-generate-a-new-version-stamp
Same day updates to the metadata do not impact the Submission History on the abstract pages as only the last saved change is recorded by the click of submit article. So if one updates the paper 5 times between the initial submission and the daily freeze on new submissions (occurs at 2pm Eastern), then only the last change is recorded. Updates beyond that time will push the submission into the next mailing, and will continue until that version is made public.
A new submission at that point will generate a new entry in the Submission History.
Some caveats: The addition of a cross-listing or addition of a Journal Reference/DOI/Report number through the jref
submission type do not generate a new version. Administrative updates to the metadata (such as a correction of a typo) also do not generate a new version or alter the timestamp on the abstract page.