OK, I think I gotcha.  :)

Install M4 and any morph packs you have into your external runtime folder, browse to the runtime/libraries/!DAZ folder and run the two batch files; there will be one for M4 and one for his bits, DzCreateExPFiles-M4.bat and DzCreateExPFiles-M4Gens.bat 

You only need to run the batch files again if you install morph packs such as Elite or Ethnic shapes.

I believe the DAZ Install Manager will work on external drives, but I haven't tried it, myself...

. 

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