Question:
Can the document versions be updated though using Vault Loader or API?
Answer:
The document versions (major and minor) are not editable as "Update" but they can be set with a specific version when creating new documents.
With Migration Mode on, the user can create new versions and specify the version number. So if version 1.2 is the latest version, the user can not update the document version from version 1.2 to version 1.4 but can create a new version of 1.4.
Note: the major and minor version numbers must also be set to editable for the user.
Related Documentation:
Article: Vault Document Versions Cannot be Modified Error When Creating a Document in Vault Loader