Bottom Line: It is 100% safe to delete OldVersions folders in your Inventor project workspaces.
What is the OldVersions Directory?
Every time you edit an .ipt part or .iam assembly, Autodesk Inventor saves prior revisions inside a hidden OldVersions folder within your project directory.
How to Clean Up Inventor OldVersions
Get-ChildItem -Path "C:\InventorProjects" -Filter "OldVersions" -Directory -Recurse | Remove-Item -Recurse -Force
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