You cant have 2 copies of the same program on the same computer.   What you would want to do for backup recovery is save these folders (and the files inside those folders), so you  have them in case you have to reinstall the program in the future.

XXData (XX being the year), Common, Homebase   These are all within your ProSeries folder.

Those 3 folders have what you need if you have to a reinstall the program.