To anyone that may find themselves facing this issue, you do not need to toggle the AllowUnsafeUpdates field. What worked for me is replacing the itemVersion.ListItem.UpdateOverwriteVersion()
statement with itemVersion.ListItem.SystemUpdate(false)
. The parameter passed in tells SharePoint to not create a new version when updating.
Edit: This answer only updates the current item again. SPListItemVersion field references are available via a get
only; it appears this is not possible in the object model.