It installs versions of Python or versions of packages? I can't find anything in the docs about installing versions of Python, just packages (which I've done on occasion, when I'm really confused about why my environment isn't working, I also have pro version now but I'm pretty sure I'd done it when I had community version too)

Ah, just checked. I thought it installed python versions as well, but it can create environments (virtualenv, conda, system pythons, pipenv, docker), and can install packages in those environments.

I do not see a way to install a whole new python version (only the ability to add to the list, which requires you to select the interpreter from an open file dialog)