New Version History Every 10 Minutes

Hello HonigKlug  - This is expected behavior, but you may need to think about the version history configuration on that document library.

By default, SharePoint Online document libraries are configured to keep 500 versions of a document.  You can change this number, but you cannot set it lower than 100.

I did have a user configure their library to keep unlimited versions (entering no number).  The library worked fine, but once a document has thousands of versions, the "Version History" menu starts to have issues displaying all of the versions.  (They had a Flow updating documents which causes some documents to have thousands of versions.)

We only knew something was wrong because the user couldn't delete a column they no longer needed in the library. We had to set a version limit and then update the documents so the number of versions would be trimmed down to the limit.

Anyway, here's a Microsoft Support article about changing this setting: https://support.microsoft.com/en-us/office/enable-and-configure-versioning-for-a-list-or-library-1555d642-23ee-446a-990a-bcab618c7a37