@akwankl, Consider a scenario profileA is already entered into the journey1 that is set with re-entrance to 2 weeks. It's been a couple of days since then. Now if you create a version of the journey2 using the option close to new entrances. From the new version of the journey (i.e. journey2) that you created will allow profileA to enter into the journey if profileA is part of the audience. Then journey2 will not allow profileA to re-enter for the next 2weeks.
Thanks, Sathees