Just in case it might help someone else with this issue, Thru experimentation I have found that copying all of the sound sets to a folder on the new drive (e:\Studio One\Sound Sets\), and adding this new location to the Studio One Preferences Location page as well as deleting the reference to the previous location which was on the system drive (c:\Users\My Documents\Studio One\Sound Sets) seems to be working. In other words all of the content that I am expecting to see shows up in the S1 Song page Browser and there are no authorization issues. You can verify where S1 found the data by right clicking some audio clip in the browser and selecting the "Show In Explorer" option.
I have not yet deleted the content on the System Drive but it appears safe to do so. Don't forget to change the "Install To" location on the Preference page as well so if you want any future content to go into the new folder.
BTW: I have seen posts where another user was advised by Tech Support to reinstall missing Sound Set content by copying of all of the sound set files to some new folder, then delete everything in the default location, start S1 and drag/drop all of the content on the S1 Start Page. I experimented with this and found that it seems to work as well. So if you change the "Install To" location prior to the drag/drop you end up with the same outcome as I described above.