I press CTRL+H and all that's there is, "Your browsing history appears here." I can't find anything in the browers' settings which remotely resembles the setting. So, don't think it's a setting.

Download history exists. I had to redo all my search engine shortcuts. ('i' in the url bar then space and it's an image search, 'd' for dictionary, 'w' for wikipedia, etc.)

This change occurred when I upgraded from a 117 build (I don't remember where I got it) to AlienBobs 122 build.

Chrome and Chromium keep a local browsing history of 90 days - anything older is deleted from the database.
If you sync your local data to a Google account then all your history is preserved even after 90 days, but Ungoogled Chromium cannot connect to a Google account and therefore after 90 days, your browsing history permanently disappears.
Chromium 117 was released somewhere september/october 2023, right? If you recently upgraded to 122 could it be that you have not been using Ungoogled Chromium for more than 3 months?

Edit:
In Ungoogled Chromium there's a flag which allows you to remove that 90 day limit: chrome://flags/#keep-old-history

Maybe I'm misunderstanding you, but I mean there is no history at all.

Ungoogled chromium has been my goto browser for longer than I care to admit being online. (It's been more than 3 months)

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I may not have understood indeed. I thought perhaps you had not used the browser at all between versions 117 and 122, which would be more than three months.

I am unable to upload a screenshot here, due to some security token missing, but I do have a history of past visited sites in my Slackware chromium-ungoogled version 23.0.6312.86. Incidentally, my history does not go back to more than 90 days - as I explained earlier.
If you want to see if there's actually a browsing history stored in your profile but it is not showing up in the browser, this command should dump your history in plaintext (date visited and the actual URL):
Question; is directory "~/.config/chromium/Default/" actually writable by your user account?

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That sqlite3 returns my history. There is no folder ~/.config/chromium/Default, but there is ~/.config/chromium-ungoogled/Default/ With few exception all the files in .config/chromium-ungoogled have drwx------ permissions. That doesn't seem right to me.

Apologies, I did indeed meant to say "~/.config/chromium-ungoogled/Default/". And on my computer, all files and directories in there are owned by my account. All directories having permission 700 and all files are mode 600 with a few exceptions where the file mode is 644.
Well at least your history is stored on disk, so why is it not showing up inside the browser? Perhaps create a bug report on the ungoogled-chromium issue list?

Well, like magic the history is back. I closed the browser, and reopened it, and the history is there. Maybe it had something to do with the fact I had just installed it, or maybe I had the 117 browser open when I uninstalled it and installed 122 and caused a temporary bug. The world will never know why.