Extending Vault space

Over time some of the content releases by Epic have gotten much larger - the most notable being the “Open World Demo Collection” that clocks out at 6.4GB - before a user even gets to their own content they’ve made for the engine. As this content accumulates, however, it slows down the machine because of a lack of core drive space.

Could there be a way to attach an external drive to a computer, and then run content stored in the Vault from a separate location?