1. Esri ArcGIS Pro Documentation, "How traditional versioning works": This document explains the architecture of traditional versioning, detailing the role of the business table, adds table (A), and deletes table (D). It states, "When you edit or delete a record in the business table in a version, rows are added to the A and D tables. The original record in the business table is not removed until the database is compressed." This underpins why edits to the base table alone are insufficient.
2. Esri ArcGIS Pro Documentation, "SQL access to geodatabase data": In the section on versioned data, this source explicitly warns against direct modification of the base table. It clarifies that to edit versioned data with SQL, one must edit a versioned view, not the base table, because direct edits to the base table are not reflected in the delta tables and will not be correctly accessed by ArcGIS.
3. Esri ArcGIS Pro Documentation, "Geodatabase archiving": This document describes how archiving works by using database triggers to copy the original state of a modified feature into a history table. A direct SQL update would bypass these triggers, but the update on the business table itself would be complete, which contradicts the scenario in the question.