File History isn't Time Machine - File History is 'Shadow Copies' to a separate drive. Time Machine is a full Mac recovery platform - as in you can fully restore the Mac to that point in time including system files. File History will let you recover a previous version, ala Ransomeware or bad save overwriting a file. File History only backs up copies of files that are in the Documents, Music, Pictures, Videos, and Desktop folders and the OneDrive files available offline on your PC.
With Time Machine you can boot off a install usb/recovery partition on a Mac and recover apps, settings, everything you had before the incident. Same with software like Acronis TrueImage and StorageCraft ShadowProtect for Windows. The builtin File History can't do it. You can create a backup 'System Image' and use File History, but there are limitations.