I cannot perform the patch update when the Documents folder is mapped to Network Drive.
Although it appears the Documents folder isn't actually written into or modified, the Movie Studio 17, build 204 patch update fails if it's mapped to a Network Drive.
To work around the issue, I temporarily pointed the Documents folder to a Local folder, did not move any of the contents and proceeded with the patch installation. Afterward, I moved the Documents folder back to it's original location.
As I generally edit movies on my workstation and then render them on a much more powerful server, Network Drive mappings and Shared Folders are an important part of the process.