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Is there out the box advanced version history for List items which show when, which metadata change by who?

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You are looking for Auditing. But be careful, it can pretty fast get out of control and fill the servers hard drive and affect the performance. Make sure to trim the Audit logs to fit your requirements. Another god idea is to have SharePoint writing the log files to a separate drive.

You can use the audit feature of Microsoft SharePoint Server 2013 to track which users have taken what actions on the sites, content types, lists, libraries, list items, and library files of site collections. Knowing who has done what with which information is critical for many business requirements, such as regulatory compliance and records management.

Configure audit settings for a site collection

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