modernization vs version

modernization and version both are nouns.

Word	Noun	Adjective	Verb	Adverb
modernization	Yes	No	No	No
version	Yes	No	No	No

As nouns, version is a hypernym of modernization; that is, version is a word with a broader meaning than modernization:

Other hypernyms of modernization include adaptation.

modernization (noun)	version (noun)
making modern in appearance or behavior	manual turning of a fetus in the uterus (usually to aid delivery)
a modernized version (as of a play)	a mental representation of the meaning or significance of something
	something a little different from others of the same type
	a written communication in a second language having the same meaning as the written communication in a first language
	an interpretation of a matter from a particular viewpoint
	a written work (as a novel) that has been recast in a new form