Just add the DAZ Studio content directory to your library as an external runtime.  I don't recall the default location offhand.

 

Alternatively, What I did was to create a folder as JimTS suggested, and added it as a DAZ Install Manager target folder; click on the gear at top right, and on the Installation Tab  at the bottom clicking on the+ sign will let you add a path.

You'll then need to uninstall what it installed to the DAZ Studio directory from the Installed Tab on the main window, go to the Ready to Install tab on and select your V4 directory as the path.  I've been told that you won't need to reinitailize after installing using this method, but I always do, as noted in JimTS's post. 

 

BTW, if you are not using Studio much, uninstalling the DAZ Content Manager Service will save some memory, but won't affect DIM (at least for what I use it for, which is installing content for Poser)

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