You should be able to simply copy the existing Library folder to the other location. I've copied my library to a USB stick and used it with no troubles. Then in the Content Library pane in Studio, add a new Base Directory and point it to the location of the copied Library.
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You should be able to simply copy the existing Library folder to the other location. I've copied my library to a USB stick and used it with no troubles. Then in the Content Library pane in Studio, add a new Base Directory and point it to the location of the copied Library.