Can RM&C perform that change?
Not directly, but indirectly using the move files then move them back, yes.
I replicated your problem by:
1. Creating a new Library on my PC using the installation on an internal hard drive.
2. Importing into that Library three Artist's Albums from media files stored on the USB Drive that has the Portable Installation on it.
3. Creating a Library Backup of that new Library, and stored the backup on the USB Drive.
4. Shutting down the PC version of MC and starting the Portable version from the USB Drive. Backed up my existing Library on the Portable version.
5. Restored the Library Backup from the PC version. Confirmed that the [Filename] field showed as M:\Music and not (Install Drive).
6. Imported three more Artist's Albums from media files stored on the USB Drive, and confirmed that they imported with the [Filename] field as (Install Drive) and not M:\Music.
Then I tested my potential fix as per my previous post:
7. Moved one Albums worth of files that currently had a [Filename] field that started with M:\Music to M:\Music\XX. Noted that the [Filename] field changed to starting with (Install Drive). The [Filename] field took a couple of moments to refresh with the new value. In fact I had to move my mouse over the records in the View for the value to refresh.
8. Moved that same Album's worth of files back to M:\Music, and noted that the [Filename] field stayed as starting with (Install Drive).
9. Moved another Album. Same result.
10. Moved one Albums worth of files that currently had a [Filename] field that started with (Install Drive) to M:\Music\XX. Noted that the [Filename] field stayed as starting with (Install Drive). Moved them back with same result.
11. Moved all remaining files to M:\Music\XX and back. The [Filename] field of all files were updated to start with (Install Drive).
12. Restarted the Portable version of MC and confirmed that the fix remained, and the [Filename] field of all files retained the naming of starting with (Install Drive) in all default Views.
So, I'm not sure why your files that started with (Install Drive) changed to starting with F:\. Mine changed in the other direction, and stayed that way once they were corrected.