It is not uncommon that users want to configure the PDF printer to save the created document in the same folder as the original document.
An example of this is where you have a Microsoft Word document in a specific location on your computer. When you double click the Word document the Microsoft Word application opens the document. From here you can choose to print the document to a PDF document.
Another example could be that you right click the Word document file in the file explorer and select the print action in the context menu. This will automatically have Word send the document to the default printer. If the default printer is the PDF printer then a PDF creation is started.
Also, the printto.exe program, which can send a file to the printer from the command line, will use the default print action of the selected file type. This is equivalent to right clicking a file and selecting print. An extra feature of the printto program is that you can specify a printer name so that you don't have to depend on the default printer setting.
In all cases the Word application is responsible for sending the document to the printer. The application creates a print job in the spooler queue. From there the spooler sends the job to the Bullzip printer port and the PDF creation is started. The print job itself does not contain any information about the location of the original printed document. Therefore the PDF printer cannot have a macro that will substitute for the original location.