Changes the file-system location where the WSUS server stores content, and optionally copies any content from the old location ...

Changes the file-system location where the WSUS server stores content, and 
optionally copies any content from the old location to the new location.

movecontent   [-skipcopy]
: The new root for content files. The path must exist.
    : Path and filename of the log file to create.
-skipcopy     : Indicates that only the server configuration should be changed
                 and that the content files should not be copied.