The current menu for the ArcGIS Pro - Project Recovery (new at 2.6) reads:
The backup is newer than the saved project. Would you like to recover your work from the backup?
and the options are:
Yes, No, Cancel.
It would be nice if there was a 'Recover as New Project' option.
It would be nice to see what is 'saved by you' as the latest and greatest, vs what was saved via Project Recovery after the Pro Project stayed open for longer. Were any pertinent changes made after I purposefully saved that I just forgot to save? If you could Recover as New Project, you could compare.