@Phillip-reid Technically that should be possible by changing the directories during installation, but you couldn't transfer the stick to another computer because files and Windows registry entries would be missing.
@Phillip-reid You can always backup your projects with all associated files on external hard drives or in the cloud. This doesn't require the program to be installed in a USB drive.
Then, in case something happens, you just load your backup.
Especially USB memory sticks are much more likely to fail than hard disks or SSD.
. . . . I've had hd fails and had to reinstall several times . . . .
USB devices are more prone to failure than hard drives.
An option is to backup or clone the hard drive to another hard drive either internal or external USB hard drive using software such as CloneZilla, or my preferred option Macrium Reflect Free (scroll down page). There are also many other backup/cloning programs to choose from.