I’d use the Clone command. This makes a copy of the repository and its files in a new folder. If you expand options, you can check “Clone to revision” and enter the revision number you want to restore, and you’ll get your copy of hte project in that state.
If you clone to a new folder inside the Paratext projects folder, Paratext will show this as a new project. and you can compare versions with the existing project. But in some ways it won’t be a new project, it will have the same registration status and doing send/receive will connect with the same repository on the server, so avoid doing a send/receive with your cloned project or you could revert the project for everyone to that revision.