Best practices for history/temporal tables?
For practical data access reasons, you should use the structure from your first option, but instead keep all versions of your tracked column values including the current version in your history table.

The reason for this is that in general, when you want to look at history, you want to include the present and all past versions.  When you don't want to look at history, you want it out of the way.  In many cases this means going so far as to segregate the history into a separate schema or database altogether.  Even if you keep your history in the same schema as your current data, any queries that look at historical data (including the current values) will be much more complex since they have to essentially union two sources.