Select-VSSetupInstance -Latest - is it about install date or version?

The help says

-Latest [<SwitchParameter>]
    Select the most recently installed instance with the highest version (within the optional `-Version` range).

so it is not clear whether it is about date or version.

If we take a look at the code
then it looks like it is about installation dates and versions are not checked.

If it is true, is it by design that Latest deals with installation dates, not versions?

In any case, the help might be more clear about what is checked.

NB (Just for cross-reference) Loosely related to this issue nightroman/Invoke-Build#122