creo4 config.pro option documentation for: EXTEND_CVPATH 
extend_cvpath
path name
Extends the CVPATH
search path for the data exchange of CADDS 5 files.
The CVPATH
environment variable defines the default paths for CADDS 5 models. Set extend_cvpath
to add paths for the CVPATH
environment variable during your Creo Parametric
session.
Use the CVPATH
environment variable to designate the search paths for locating the following:
The component models of an imported CADDS 5 assembly if they are not in the same directory as the assembly.
The reference CADDS 5 part or assembly when updating a CADDS 5 Translated Image Model (TIM) in Creo Parametric
.