Create a text file named search.pro in your <loadpoint>/text folder (or other location using the config.pro option search_path_file to point to your search.pro file location).
search_path_file c:\proe\config
In the c:\proe\config folder you have the search.pro file.
In the search.pro file, enter each folder on a line that you want Creo to search for your component file in. The folders will be searched working down your list of folder paths.
example search.pro file format:
c:\proe\work_in_progress
c:\proe\unreleased
c:\proe\released
c:\proe\library
If Creo finds the file in work_in_progress, it will load that one and ignore an older version found in the released folder.
It does not understand filenames that have versions in the name. my_part_101_A.prt is a different file from my_part_101_B.prt.
If you have my_part_202.prt in released and a newer copy in work_in_progress, the one in work_in_progress will be loaded.
If you want to load the released version of the assembly, reorder the lines in the search.pro file so released is the first directory searched.