Outlook isn't too particular about which folder you store data files in. You can even put different .pst files in different folders.
There is a default folder location. A quick check on the web says it's here:
drive:\Documents and Settings\user\Local Settings\Application Data\Microsoft\Outlook folder
However, my guess the location depends on the version of Windows (7? 10? 11?) and the version of Outlook (2010? 2016? 2019? 365?)
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