I couldn’t locate the option in Photoshop, so I started searching and found the answer on one of Adobe’s Blogs.
Note: we removed the option in preferences to point to a “Additional Plug-Ins Folder” in Photoshop CC as it caused more problems than it solved.
Now here is something I completely don’t agree with as this folder made it so much easier to upgrade versions, as you could keep your 3rd party plug ins in a separate folder, and just point the new version at them. SO MUCH EASIER THAN HAVING TO GO THROUGH YOUR PLUG INS FOLDER EVER UPGRADE AND MIGRATE STUFF! Annoying adobe, very annoying!