I think I found (digging in other similar threads) a workaround that actually seems to work perfectly:
Testing it and sees to work great, including number of versions to keep, etc…(have not tested a recovery, but the actual backup uses the system snapshots I believe).
As a side, I moved my (huge) db out of the /config and into the /media folder (otherwise empty) and excluded that folder form the backup… so significantly reducing the size of the backups:
recorder:
db_url: sqlite:////backup/home-assistant_v2.db
Ref: A backup tool, with automated schedule, excluding db files (since they are usually large)
Hope it is useful.
ET