Version: 0.12.1.0
After the 0.12.1.0 update it seems that the "Max Autosaves Count" setting is no longer being applied when the game autosaves. Currently my "Saves" folder has a total of 11 autosaves in it, whereas the setting should limit it to the default value of 5 saves.
There are more than 5 autosaves dated after the 0.12.1.0 update, so this doesn't seem like an issue where "Older" saves are not recognized correctly.