ShareLocalDrive.exe is an application that creates the MEDILINK share when running a server install/update.
There is a known issue with the server path having a space in it. You will get an Invalid Directory error message.
For example, if installing to D:\Shared Data\Medilink32bnt you will see the below error.
This means that the install won't work properly, as the share will not exist.
The workaround is to install Medilink as a STANDALONE, and then manually create the MEDILINK share on the medilink32bnt folder.
Once you have a share you can use the Network Management tool in the Medilink Launcher, to point to the \\<YOUR_SERVER>\MEDILINK path.