If your images in Aperture have a little curled arrow in the corner, and when you import you import to a place in the filesystem, rather than "in the Aperture Library", then you're using a
Referenced library. A lot of the size in your library will be the previews which are generated to enable you to sync images over to iOS devices via iTunes.
The Outcome is still the same, however - your edit metadata (the vesioning, the edits themselves etc) are stored in the Library, which exists independently of the Application.
Time Machine should work fine for the Aperture library - because it sees bundle files as directories and can therefore back up only the incremental changes within the Library every time it runs, then the whole thing can be recovered if necessary. Aperture also runs its own internal library backup function. It is good to also have a whole disk backup, using SuperDuper!, Carbon Copy Cloner, or Chronosync. That way you have both the most recent thing as a failsafe, and a versioned backup in case damage to a file has crept in over time.
If / When you eventually retire Aperture or move to a new system, you have a difficult choice in terms of finding a tool to do everything it does. Currently there is nothing on the Mac which can import from device to a Referenced Y/M/D file structure, AND add those files to a Referenced catalogue DAM, AND sync those files back to iOS device (if you're using iOS devices as part of your Aperture library).
Photos.app Pre-Ventura can import the Aperture Library, and use a Referenced library, but can't import from device to a referenced library. Image Capture can import from device to disk, but can't import to a Y/M/D folder structure. Hazel, (an automation tool) can take imported files and generate a Y/M/D folder structure from them, it can also aotomatically add images to Photos' library structure, though I haven't checked if it does referenced import yet.
Peakto is an interesting app, which acts like a Meta-DAM and can see inside the Aperture library (and petty much any other DAM library format). You can also use saved spotlight searches (smart folders) to do a lot of DAM-ish stuff in Finder directly.
Here's the workflow I'm building, so that I'm not reliant on any one tool - everything is redundantly replaceable:
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