For each version of a custom content category, you can also add Version Notes.
This field is a free-form text field. You can use it to add notes about the content, what's changed between versions, or provide editorial feedback to other content authors in the version Note field. Version Notes are only visible in the editor:
These notes are tied to the particular version, so you'll see different notes for each version. The text field can hold a large amount of text, and you can use the scrollbar on the right or drag the lower right corner to view additional notes: