During co-authoring of a document, when a different user begins working on the document or when a user clicks save to upload changes to the library. The default time period for creating new versions during co-authoring is 30 minutes. This is configurable per web application in SharePoint on-premises. This setting is not configurable in SharePoint Online.
Will this be available in any future release?
When can we expect this configuration to be available in Sharepoint Online?