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==>Where would be the content library reside if we start using the new drive?
The content library will reside in the original drive before the reserve space amount arrived.
==>If we don’t transfer our content library to new hard disk are we going to have two content libraries or it would always use the content library of the old one ??
The content library is a single-instance store of content in Configuration Manager, so there will be only one content library. And yes, it would always use the content library of the old one before the reserve space amount arrived.
The content library is dependent on drive rather than hard disk. The content library can be spanned across multiple drives. You specify a reserve space amount during configuration. Configuration Manager attempts to use a secondary disk once the best available disk has only this reserve space amount left free. Each time a new drive is selected for use, the drive with the most available free space is selected.
To prevent the content library from being installed on a specific drive, create an empty file named NO_SMS_ON_DRIVE.SMS. Copy it to the root of the drive before the content library is created.
For more information, please refer to the official article: The content library in Configuration Manager
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