I don't see why not unless there's some kind of restriction in the application. If you put the H:\ drive path in that space, I would expect it to write a settings file to that location the next time you open it (unless there's some kind of permissions problem).
Hey, isn't the email above the save path? Presumably you put the email address which matches your license in between the email tags, then the application settings path in between the two save path tags?