Synchronization Settings - how?

I have 2 system drives, I use mutliboot on my PC system and I’d like to use shared and synchronized setting & presets for both environments. What is the correct approach? Should I use a specific independent newly created location or can I use setting folder of one system and share it with the other? Any restrictions / recommendations?

Should I use a specific independent newly created location or can I use setting folder of one system and share it with the other?

Both ways are equal. But if the system with the setting folder is shut down, it won’t be available to the other.
For this reason, having separate folders and using the sync feature is also a good approach.

The Microsoft multiboot does not hide the other non-booted system drive e.g. both systems see the other system drive.
So there is no difference between separate independent folder for both or sharing one with the other?
How about 32 vs 64 bit version? Should they also share the very same path in all 4 instances? (eg. System 1 32bit / System 1 64bit / System 2 32 bit / System 2 64bit all pointing to the same path?)

32 and 64 bit settings are the same, WaveLab looks at the same place. Sole difference: the plugin locations are independent.