Folio already displays some basic record metadata: when the record was created and by whom plus when the record was last updated and by whom. This feature represents the additional work needed to create a very robust app within folio to show all the changes made to a record. See this discuss post for details: https://discuss.folio.org/t/change-tracker-app-ux-iteration-1/1838
When deciding how important this feature is, you should be aware that FOLIO will also offer mechanisms to feed/log audit trail data to a data lake so reports can be generated using external reporting tools. This data logging is an NFR (non-functional requirement) which means that it is assumed it will be done and we will not ask the community to prioritize the feature. See UXPROD-217 for more details on that NFR.