Is there something that would look like snapshots, but for NTFS?

I contribute to a software development project which has a specificity:

1. Multiple versions coexist, and there is a way to run any of those versions locally (to test a new feature or a bug fix).

2. A distribution of a version uses about 2 GB of disk space, with a lot of files.

Currently, the workflow looks like this. If, say, I need to test my bug fix on versions A and B, I would:

1. Copy the official distribution for version A from C:referencesA to C:current.
2. Compile my changes, overwriting some of the binaries in C:current.
3. Test the bug fix.
4. Delete everything in C:current.
5. Copy C:referencesB to C:current.
6. Compile my changes, overwriting some of the binaries in C:current.
7. Test the bug fix.

Copying a large amount of files takes time. This delay breaks the flow. I thought about another approach, but I don’t know if it is feasible.

In SQL Server, there is a thing called database snapshots. In essence, at a given moment, you ask the database to create a snapshot of the current data. Once it is created, any change can be made to the database—one can add or delete data, destroy entire tables, etc.—but at any moment, I can say that I want to go back to the snapshot, and all the changes made since this snapshot would disappear in a matter of milliseconds.

If there was a similar feature for NTFS, I would be able to do something like that:

1. Create snapshot for C:references.
2. Compile my change in a way it overwrites some of the binaries in C:referencesA.
3. Compile my change in a way it overwrites some of the binaries in C:referencesB.
4. Once I’m happy with the changes, restore the state of C:references using the original snapshot.

Is there a way to do it?