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I would like to be able to specify the path/directory of the syntax definition file.

Why? Because, as a user, I don't have write authority to my C: drive, and so I can't modify it. If I could put it in a directory where I have write access, I could edit it.

I could also point to a network folder for the syntax file so all machines in my group had access to the latest and greatest.

That is possible...

Configure /preferences...
Click Folders in the left pane...
Click Syntax in the right pane...
You'll see the path in the edit box, Browse to select a new resting place or type the path.