We are migrating from a single machine deployment to a multi machine deployment. We are in Azure and have an Azure File Share connected to each machine as a drive (Z).
When installing Portal 11.4, it would not let me install the content directory to the file share drive (Z). After installation, I went to portal admin and tried to change it from System > Directories, but I get this error:

which doesn't exist, but that path also doesn't exist in the current directory.
Question: Is the Portal content directory supposed to go on the File Share? or is it just the Server configuration directory?