Hello,
this is the correct behaviour if you simply use the "Upload New Version" feature. In this scenario the version changes only if the content of the document changes and only the metadata that is currently attached to the document will be put in the version history. So if you change a property on the current document, it will only show up in the version history after the next "Upload New Version".
The behavior is different, when you manually apply the "Versionable" aspect before doing anything else. In this configuration, every update of a metadata properties triggers a new minor version and as a result each change of metadata will be visible in the version history.
This behavior is controlled by a boolean property on the "Versionable" aspect (cm:autoVersionOnUpdateProps), which is true if you apply the aspect manually and false if it is automatically applied by "Upload New Version".
Regards
Axel