The horse does look a lot fatter, but otherwise is essentially the same as today. The illustration is from “The Green Roads of England” by R. Hippisley Cox, published in 1914 and re-issued in 1973 by Garnstone Press. The book contains many drawings and plans of hillforts etc and they are all very accurate. That suggests that this drawing of the White Horse is also reliable.
Image credit: W.W. Collins, R.I.