Good to hear it's working again
For your second question, I don't think this is possible unfortunately.
The settings are stored in the appdata folder for your user so they will follow the user you're logged in as and not the program location.
So if you're looking to run two instances of the program at the same time, with different settings, I don't think that can be done.
If you just want to run one of them at a time, but with different settings, it may be possible to operate with two different config-files (renaming the folder each time to switch to the one that should be active) but obv that is pretty fiddly as well.
Creating a second windows-user, and switch between the two, should work too, but will possibly/probably cause issues for other programs that are installed by user.