From your first response to the question, does it mean that the user will end up with two forms after an increment is done on the version number in the settings tab. Is there a way of replicating the previous form on ODK Aggregate without affecting the already collected data especially if the update does not affect the structure of the form's data
https://docs.getodk.org/form-update/ is the current documentation on form updates in Aggregate. If the update doesn't affect the structure of the form's data, data that was already collected is not affected.
ODK Central is the modern replacement for Aggregate and it allows any form of updates to form definitions without affecting previously-collected data: https://docs.getodk.org/central-forms/#updating-forms-to-a-new-version. Only fields that are part of the currently-active form definition will be included in exports.