Sharepoint Disable and Delete Versioning Files

1. Firstly, understand the issue on how your $pace is slipping through your fingers

   https://techcommunity.microsoft.com/t5/microsoft-onedrive-blog/new-updates-to-onedrive-and-sharepoint-team-site-versioning/ba-p/204390

2. Secondly, install the "SharePoint Online Client Components SDK" 

   https://www.microsoft.com/en-us/download/details.aspx?id=42038

   The installation will get all the required dlls at 16 hive location.

   Here is the location where all the needed dlls.

   C:\Program Files\Common Files\microsoft shared\Web Server Extensions\16\ISAPI\

3. Then, change the Site URL in the script

   $SiteURL="*** SET YOUR SITE NAME ***"

   Sample site names:
   $SiteURL="https://XXX.sharepoint.com/teams/ABC" # Traditional Sharepoint
   $SiteURL="https://XXX.sharepoint.com/sites/msteams_XXXXXX" # Teams Sharepoint

4. Run the script with PowerShell

5. Enter Sharepoint site user login name XXX@YYY.ZZZ and password

6. Sit back and Watch it run

7. Verify the version setting of the Sharepoint Site

   https://support.microsoft.com/en-us/office/enable-and-configure-versioning-for-a-list-or-library-1555d642-23ee-446a-990a-bcab618c7a37


[Optional] 

Read the following very helpful article on Using CSOM in PowerShell scripts with Office 365 by Chris O'Brien

http://www.sharepointnutsandbolts.com/2013/12/Using-CSOM-in-PowerShell-scripts-with-Office365.html