This has been something i have been putting up with for some time and i have to report it as it has continued throughout every update including 7.0.3.012h. It is not specific to this version.
It is not specific to any box in particular but is present only with a Fresh Install or Hard reset of existing version.
Note i have enabled show hidden Files in settings but the Backup Directory will not show up in File Manager.
If i try to restore from previous backup , i do not have a Backup directory as an option.
The only way i can make it show up in File manager is using Native "Finder" on a Mac under shared devices on my Network.
I can see the Backup Directory in the Device. I then open the Backup Directory (which mounts the folder on desktop) and after this has been done
The Backup Directory shows up in File Manager.