To my knowledge, there is no way to get No Man's Sky to save to another location using command line parameters, registry entries or fiddling around with the environment -- my guess is, they simply use the corresponding Windows API call to get whereever Windows thinks %APPDATA% is located.
There is, however, a way to actually trick No Man's Sky a little -- by creating a symbolic link pointing to the location, where you'd like your savegames to appear.
Here's an example, provided your saves are in C:\Users\me\AppData\Roaming\Hellogames, and you want them to be in e:\mysavegames\nomanssky\Hellogames
1. Make a backup of your savegame folder (C:\Users\me\AppData\Roaming\Hellogames)
2. Remove your current savegame folder (C:\Users\me\AppData\Roaming\Hellogames)
2. Create the folder, where you want to store the savegames (e:\mysavegames\nomanssky)
3. Open cmd.exe as Administrator
4. Type the following command:
mklink /d C:\Users\me\AppData\Roaming\Hellogames e:\mysavegames\nomanssky\Hellogames
5. Copy the backup of your savegame folder into e:\mysavegames\nomanssky, so that afterwards it contains a Hellogames folder
Start No Man's Sky, and check, if things work correctly.
Edit: Tried to correct my usual plethora of typos ...
Post edited August 21, 2018 by ksj8ak2