I was looking at the Command Center today and noticed the default content directory:
C:\ProgramData\Cakewalk\Command Center\Downloads
 
I was surprised that the size was 77Gb!  So curious minds want to know:  Is this only for installs and the files can be deleted?  Or can old versions of installs be deleted?  or can I designate/move this to a different drive to conserve my c: space?  

Hi. You can move those files anywhere you want them. Just make sure to have CCC point to the correct folder.
I have all my CCC downloads pointed to an external drive. (Gear icon on top right in CCC. Under "Paths" tab)
Otherwise you can delete them all, and CCC wil download them again, if needed.
All the best.

Those are all the installers and are not needed anymore once you complete installation.
You might however, want to save a back up of previous version of Sonar so you can roll back if you ever want to.
 
I saved almost all of them up until a year ago, then I asked myself if having 100GB of old Sonar installers was doing me any good, I wasn't using them. So now I only keep a few months versions so I can roll back if needed/want to.

The best way to relocate the folder is a directory junction and leave the Command Center setting alone. The reason is a directory junction will persist even after logging out and back into the Command Center. Logging out of the Command Center resets the download path to the default.
 

scook gave a great lesson on using directory junctions quite a while ago.
 
Use this link, ~~> directory Junction
 

Here is an example updted for Win10