I have to argue there with you Drixil, you must of made a mistake.
Worked a treat for me, this is what mine now looks like, saving me a nice 10GB on my OS dedicated SSD.
[InstalledDerivedDataBackendGraph]
MinimumDaysToKeepFile=7
Root=(Type=KeyLength, Length=120, Inner=AsyncPut)
AsyncPut=(Type=AsyncPut, Inner=Hierarchy)
Hierarchy=(Type=Hierarchical, Inner=Boot, Inner=Pak, Inner=CompressedPak, Inner=EnginePak, Inner=Local)
Boot=(Type=Boot, Filename="%ENGINEUSERDIR%DerivedDataCache/Boot.ddc", MaxCacheSize=512)
Local=(Type=FileSystem, ReadOnly=false, Clean=false, Flush=false, PurgeTransient=true, DeleteUnused=true, UnusedFileAge=34, FoldersToClean=-1, Path="X:\UE4DataCache")
I can confirm this works as expected on the 4.11 Launcher version of the engine.
You can also copy the EXISTING Data Cache folder and put it in your new location and everything loads as quickly as it did before!
Perfect!!
Thanks for the help/Tutorial!!