FastTrack Schedule 2022 for Mac supports Apple's Revert To and Versioning system. (This feature looks similar to the Mac Time Machine interface.)
The versioning feature works with Mac OS Extended (HFS+) volumes that are directly connected to your computer.
Standard thumb drives that have not been reformatted to HFS+ and network connections to volumes over AFP, SMB, or NFS don't support Apple's versioning system, so FastTrack Schedule 2022 presents the message, "The document [name] is on a volume that does not support permanent version storage."
When versioning system is functioning, you can roll back a file to prior versions (even after saving and reopening) via the File menu "Revert To" command. If you are saving to a volume (drive) that doesn't support this feature, you can still use FastTrack Schedule 2022 without any problem. You just won't be able to roll back a file to a prior version. The message sounds more alarming than it really is.
This message and the limitation of certain kinds of drives comes from macOS, and is not something FastTrack Schedule 2022 has any control over.
Here is a link to support.apple.com which provides additional information that may be of interest.