Is there a way not to create a new budget version on top of original baseline version after budget a

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We've been using project budget functions for over two years. and we noticed that every time after budget version was approved and baselined, a new budget version (with default name 'version2') was created with 'Current Working' status; in the meantime, the original budget version status was changed to 'Current and Original Baseline'. Refer to screenshot attached,

I found a configuration in Manage Project Plan Type, with the flag named 'Generate budget version when setting baseline for project plan'. we have it enabled currently, However after I disabled it and did a testing, a new budget version was still created.