Hey there @south8
That can only be achieved using a workaround & that won't be supported if it's not working but if you have no choice because of space then you should be able to use symbolic links .
So assuming your on a Windows PC because your mentioning "disk C" you could move your original Waves folder to a new location and then create a symbolic link ( in the original path ) pointing to this new path.
You can refer to those existing topics to learn more about Symbolic Links under Windows and the correct path for ANA 2 files. The second topic where you'll find the link about Symbolic Links is about Kick 2 but the principle is exactly the same. So have a look at this and it should help you to do the trick.
if you're familiar with the Windows shell & command line editor, there's a simple command line mklink that you can use to create Symbolic Links, but please refer to the existing topics to get the concept around it first.
Hope that helps, let me know if you're having problem to make it work