@Rajat Saxena (NON EA SC ALT) Welcome to Microsoft Q&A, thank you for posting your here!!
This is expected behavior only after you enable blob versioning for a storage account, every write operation to a blob in that account results in the creation of a new version with version ID.
Blob versioning is in disabled state on the Storage account
Upload an empty abc.txt file and edited the content to the blob and you can see there is no blob version created as blob versioning is not enabled at this stage.
Enabled blob versioning on the Storage account
added some content to the text file
Now you can see the version id created as the versioning was already enabled at this stage.
Hope this helps!
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