When you restore your iPhone from a backup file (iCloud or Computer), then the iPhone and its contents and settings are restored to the date when the backup was created. Those backup files are continuous backup files that write upon themselves and remain current to the date of creation.
There is one exception and that is that when you backup on a computer, then you can archive backups after you create it and then next time you would create a new backup with a different date. You can maintain multiple archived backups if you use this approach.
Axel F.