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Yes, System Volume Information is used for more than just the normal restore points. The built-in Windows system imaging stores data there too.
How can I delete Windows Backup/SPPMetadataCache files post #2
Delete System Image Restore Point from System Restore in Windows 10
For safety I prefer to leave permissions for System Volume Information at their defaults and untouched. The way I get access to look inside without needing to change anything is to run TreeSize Free as an administrator.
Should I ever feel a need to delete anything there I'll do it from an Advanced Start Up Command Prompt.