When a Form Template is first created, it will be as a Draft version and once it is published, it will become Version 1.
If the Template requires editing in the future, you will need to create a new Version and a sequential number will be assigned by the LMS for each new Version of the Template going forward.
To create a new Version, navigate to the Template you would like to amend (see View existing Form Templates if you're unsure how to do this).
Click on the Template's name.
Click on the New Version button at the top right of the Editor.
Click on Confirm in the popup window.
A new Version will be created and you will be able to start editing the Form Template.