Hi @StretchMary
I think this design will help you
Follow the below steps:
1. First get the file properties in a library using below action

2. Loop through each of file properties using apply to each like below

Next steps would be for actions inside the loop
2.1 use conditional action to check two conditions
- Whether the file has been modified more than one year
expression: div(div(sub(ticks(utcnow()),ticks(items('Apply_to_each')?['Modified'])),864000000000),365)
- Version number is major or minor, for major version it ends with .0 (like 1.0,2.0, 3.0 etc)
If the above condition is True, flow will follow the Yes branch as per steps below
2.2 . use code to publish minor version of document ( I have used compose action to denote minor version publish code, will share a post where you can find how you can publish major or minor version).
2.3 Use send email with options to send email with3 options : Choice 1, Choice 2 , Choice 3
Here i assume that Choice 1: if one chooses to update the document then it will continue to approval process.
Choice2: If the choice is to lengthen the time it will just be republished as a new major version
Choice3: if the choice is to name someone else to update then a link of the document will be sent to this new person.
for each choice i will be using switch action which works on dynamic content value selected response as shown below

For each choice, this has to be done
Choice 1:
As you said, If one chooses to update the document then it will continue to approval process
this is done here

Choice2:
as you said, If the choice is to lengthen the time it will just be republished as a new major version

will share the link on how to publish major/minor version of a file using api in power automate, then replace the compose action with that 🙂
Choice3:
As you said, if the choice is to name someone else to update then a link of the document will be sent to this new person. For this scenario, approval type of flow works best as sending link of document as approval and getting response based on approval would be a good idea to try on.
Note:
For publishing major and minor version of sharepoint library files, check this link:
https://powerusers.microsoft.com/t5/General-Power-Automate/Publish-all-minor-versions-in-a-SharePoint-document-library/td-p/1971562