That is the current state and correct. There has been no updates to the save protocol since 2020 so it shows that as the option.
Thank you very much !
Thanks for reaching out. The version selection is for the minimum version of Illustrator with which your file would work. Selection Illustrator 2020 indicates the file should be compatible with Illustrator 2020 and newer.
Feel free to reach out if you need further assistance. We'd be happy to help.