Things I have tried
Feel free to move this to Feature Request if this is indeed the intention of this feature 
We want to set the config location to a local one, a folder that is not located inside the vault folder. It will not let me, most likely because it does not start with a dot.
What I’m trying to do
Use a config folder location in another folder. Specifically we want to be able to share an Obsidian Vault in a shared drive, without each user having to share the config files too. So pointing the config folder to another location stored on each users machine would be perfect.
I have recently convinced the management to switch to Obsidian for documentation, and we are in the trial process of setting things up to see how feasible things are. Should be 50-100 users we’d want a license for. More details available on request.