- create the target Library folder, e.g. D:\music
- go to "properties" to make sure the folder is shared (so a network path is showed).
- go to "C:/User/xxx/My Music" -> "properties" -> "location", and point it to the target folder created
- when asked whether or not the move the folder and everything, confirm with "yes"
- now "C:/User/xxx/My Music" will no longer exist, because it's now at the new location; because the target folder is shared already, it can take the network name "My Music" while preserving it's real folder name "D:\music".