This would be in the form %userprofile%\Google Drive, %userprofile%\Documents\My Dropbox or similar.
The only time it is recommended that you alter this string is if you are running FDM Portable from a synced cloud drive (like Dropbox, Google Drive, etc) in which case it is recommended that you use %userprofile% so that it will remain in your synced drive across PCs. The string %sdrive% in the location indicates the current drive letter X:\ and should be left there with your selected path including it. You can alter this by right-clicking each folder (Music, Other, Software, Video) and entering a new location. Free Download Manager (FDM) Portable has some important issues to keep in mind in terms of portability that differ from other portable apps.