Yes indeed it does. Before getting to far into this I want to stress that, this is a “backup” tool built into Windows since the Windows NT4 days. This tool does NOT image drives as other third party software. Nevertheless, this will move, update and keep files tidy for storage on a separate drive and on a schedule you choose. I have included both a easy to understand article from MUO for those interested yet aren’t that tech savvy. And Microsoft documentation for usage as well.
MUO article:
Supported usage documentation:
SA