I know it's a necropost, but I wanted to add a more convenient solution to this problem than BelgianFred's solution. I've been using "LinkShellExtension" for 6 or 7 years. It works great. It lets you make symbolic links and junction points and hardlink clones by right-clicking and dragging selected files and folders. I prefer Junction points because it's stored in the file system and works with network shares, but if you don't care about that, symbolic links will accomplish the same thing on the same machine.
You select your files in windows explorer, right click and drag, and then instead of choosing move here / copy here, you choose "drop here" and pick the kind of link you want to make out of a sublist. It's very fast and very convenient. I find I use it for lots of things (like relocating my windows "user" folder to another drive - gotta do it while not logged in as that use though); or when I want something to show up in "My Documents" as well as somewhere else, etc.
And of course, it works well for this situation as well. You would shut down launchbox, move the folders to the drive you want them on, and then drop a symbolic link or junction point back where launchbox normally keeps them. Launchbox then behaves normally, but the files are stored on the drive you want them on.
https://schinagl.priv.at/nt/hardlinkshellext/linkshellextension.html