1. Stop all Qlik Sense services except Qlik Sense Repository Database.
2. Under C:\Program Files\Qlik\Sense\Repository\PostgreSQL\9.6\bin folder there is an executable called PgAdmin3. Run this to connect Qlik Sense Repository Database. Please note that Qlik Sense Database is using port 4432 rather than the default Postgresql port 5532.
3. Once you connect, proceed to Databases -> QSR -> Schemas - > public -> Tables and find the table called ServiceClusterSettingsSharedPersistenceProperties
4. Make appropriate changes in the below fields to define new folder paths.
5. Copy all previous folder content into the new one.