Copy version history from one file to another

Question

The following is an existing functionality implemented in SharePoint 2010. Unfortunately, I don't have access to the code. So I'm not sure how the following is achieved.

Is the following achievable in SharePoint online?

1. First, a file with a specific extension is uploaded into a library. This file gets a SharePoint ID.
2. Then over that file, there is a custom action to upload another file with a different extension in the same library.
3. When the user performs the custom action the following happens.
4. The original file gets backed up to a specific folder in the same library.
5. The new file gets uploaded with a different SharePoint ID and it gets updated with the version history of the first file.
6. The first file seems to get deleted.

I had a look at this thread, but that is not helpful.

Answer 1

Per my knowledge we cannot do this in SharePoint Online. Without version history part, you can use MS flow to automate the process. However we cannot migrate the version history from one file to another.