The backup function is nothing more than a tar command that archives /storage/.cache /storage/.config and /storage/.kodi so it's fairly simple to use the cron scheduler to execute a weekly (or other frequency) backup, and equally simple to schedule a second command that finds and deletes older backup files.
Enhancing the settings add-on would be better, but there are challenges due to how it's been written and it seems to deter people from volunteering or contributing