Storyboard Pro: Location of Libraries on hard drive

Do SBP libraries have to be kept in a Toonboom folder?

I understand that library elements (music, sfx, panels, etc) can be used across multiple projects, so I assume they don’t (can’t) have to be within any one project folder. Do they even need to be on the same drive? For other editing projects in other software, I keep a large library of SFX on an external drive. Can my SBP library point to that, or do I have to duplicate files for SBP on the same internal drive where the program and project files live?

Thanks.

The default library for Storyboard is in your user’s documents folder but
you can use the Library to create a library in any folder you specify to
be one. You can open and use multiple library folders at one time.

More info is available here:
https://docs.toonboom.com/help/storyboard-pro-6/storyboard/library/about-library.html