These locations are correct only if you accepted the default locations during installation.
For a time, I had them point towards a Folder in My Documents so that I could include my setups in backups of my Data folder. An additional advantage of this is that you don't have to be in Administrator mode to save a new Template or Custom Workspace.
TC Pro Platinum 2020, 2019, 2018, 2017, 2016 & 2015 (all with LightWorks & RedSDK) & V21
System: i7-5820K @ 3.30GHz, ASRock X99 Extreme4, 16GB DDR4-2133 RAM, Gigabyte GTX 970, Samsung NVMe SSD 950 (256GB), Windows 7 Pro (64-bit) SP1