DS allows you to set paths either by right-click on the Daz Studio Formats/Poser Formats/Import Formats heading in the Content Library pane or via the Content Directory Manager dialogue (Daz Studio>Preferences>Content tab>Content Directory Manager). Daz Install Manager allows you to set paths in preferences (the gear icon at top-right)>Installation tab - click + to add a new directory, enter the details, and set it as the Current directory at the bottom of the Preferences dialogue). DS and DIM don't talk, so you need to set both (or download the script for the direction in which you want to copy paths - from DIM to DS or from DS to DIM - from this link and drag into the DS Viewport to run it http://docs.daz3d.com/doku.php/public/software/dazstudio/4/referenceguide/scripting/api_reference/samples/start#directory_mapping

Daz Studio doesn't care where the folders are, you can move them and as long as you have correctly selected the content directory under the correct heading everything will still work. DIM does store the absolute install path of files it installs, you can tell it to install updates to the current destination folder instead of the original folder (also the Installation tab of Preferences) and mostly everything will be OK, but very occasionally an update will want to remove and not replace a file which may cause an issue with a DIM install.