@polina-abramova could you elaborate on why two distinct options for creating a version and replacing are needed? 

Hi @MC97 - thanks for the request. This is actually already supported in Assets Cloud Service, but there are no current plans to side-port to 6.5. Thanks, Alex

Hi @NathalieLV this has been fixed in the code and the updated functionality will be available in the next public CS release. Thanks for the feedback!

Hi @NathalieLV what version of AEM are you using? This is already supported out of the box with Assets Cloud Service.   

Hi Nathalie, this requested behavior is actually available in the new Assets UI which will be available for all Assets Cloud Service customer in June. With this new UI you will be able to download the specific renditions for each asset without having to download all of the renditions. Thanks!

Thanks everyone for the great feedback! We've reviewed internally and will prioritize this into our current roadmap. 

Hi @annrandall1 - This feature request is available in the new Assets user interface for Assets Cloud Service. Let me know if it would help to see a demo/recording.