We found a temporary fix for those who might be having a similar issue. We are copying the path from Windows and pasting it into the folder path in UE4 during new project creation. It pastes with the drive letter we are using here at the school for our content drives for students. Our instructors will be able to create in class projects and students can do the same on their computer log ins. Everything seems to be running okay. I hope this is something we can expect to be resolved in future patches. Great work on the engine thus far!!