The Personalized Variation Test in Campaign

We are doing our first A/B test out of Braze and the client wants to utilize the Personalized Variation test vs. the Winning Variation test. Now since we don't have many campaign history to go by since we just started deploying out of Braze, does that matter if we still run the Personalized Variation test? Does it go by past history characteristics OR solely similar characteristics on the initial test?