If you open Registry Editor (regedit.exe) and go to HKEY_LOCAL_MACHINE\SOFTWARE\WOW6432Node\Paratext\8
what is the value for “Settings_DIrectory” ? If that says “C:” can you change it to “C:\My Paratext 8 Projects” ?
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(If you have a 32 bit Windows system, the registry path would be HKEY_LOCAL_MACHINE\SOFTWARE\Paratext\8)