Unreal Launcher and Source install

Is there a way to get the unreal launcher to recognize the compiled source install of UE4? it wants to download the 7gb version even though I have the latest source version compiled. Also it would be nice if you could allow content downloads to be downloaded to other directories, I keep OS partitions as small as possible and being forced to use my documents is a pain.(Don’t have the space, so I can’t download anything.)

Make a symlink

Thanks, I tend to forget about symlinks when I am on windows for too long. Works fine for the content updates but I’m not quite sure how to setup one to fool the launcher into accepting the compiled version of UE4 just yet.