Yes, the exe location is correct. Not sure what permissions are required to restart the app? Wasn't aware of that requirement and I can't find a reference to it in the TWebupdate developers manual.
Anyway, the issue is that restart only works if the exe is installed in C:\Program Files (x86) (and perhaps in other C Drive folders - haven't tested), but not in Drive E: folders. I now recall that we discussed this issue a year or two ago and came to no conclusion then, so let's leave it for now as it's not a big issue.