Build: v5.6.169
OS: Windows 10 Enterprise (64 Bit)
Build: v10.0.18362.0
I updated the product & version levels within the new SETTINGS dialog for PSS and could not locate the SAVE selection so assumed this would occur when I closed the dialog using [X]. It did not!
It reverted to the previous version and as a consequence of me having a custom BUILD COMMAND, overwrote my previous versions source and executable

Once I found this, I discovered that you can SAVE the settings via the FILE tab and SAVE.
Generally, once I have assigned a products settings the only thing I change is the VERSION on new releases so it would be nice to have the save selection preserve changes when you close the dialog....I think it use to on the previous version.