User Configuration > Administrative Templates > Microsoft Office 2016 > Miscellaneous
User
HKCU\software\policies\microsoft\office\16.0\common\fileio
This policy controls how long local document versions are kept in the local cache. The default setting is 30 days and applies to Word, Excel, and PowerPoint. If you enable this policy setting, local document versions will be kept for the number of days specified, after which they’ll be deleted from the local cache. You can configure the setting with a value from 1 to 30. If you disable or don’t configure this policy setting, local document versions will be kept for 30 days, after which they’ll be deleted from the local cache.