To configure licensing token roaming, you can use either the Office Deployment Tool or Group Policy, or you can use Registry Editor to edit the registry. Whichever method you choose, you need to provide a folder location that is unique to the user. The folder location can either be part of the user's roaming profile or a shared folder on the network. Microsoft 365 Apps needs to be able to write to that folder location. Using a shared folder on the network might lead to network latency issues, adversely affecting the time it takes to open Office programs. The location is only needed if you prefer to not use the default location, which is %localappdata%\Microsoft\Office\16.0\Licensing.