I'm currently runin houdini on couple machienes having setup config folder with
export HOUDINI_USER_PREF_DIR=/media/Storage/Config/houdini20.0
to load same configuration from NAS.
Is there a way to have defined another location for Houdini 20.5 but still to have current 20.0 location used as well for other version?

In the json packages you can use if-statement and version numbers. Using those you can add paths en set variables depending on which version is being started.

https://www.sidefx.com/docs/houdini/ref/plugins.html [www.sidefx.com]