At this time, BA has no option to select and install a previous release.
It is possible to retain the installers and run them manually at any time. To do so, once BA has downloaded CbB and the installer is waiting for input go to %appdata%\bandlab-assistant\Downloads and make a copy of Cakewalk.exe. This is the installer.
Alternately before running BA to update CbB, make a copy of
C:\Program Files\Cakewalk\Cakewalk Core. The old CbB may be run directly from the copy or it may be used to replace the current production copy of CbB. This is how I keep several versions of CbB available online.