The way I do it is to first install EDU version and when prompted for the location for the installation I add EDU at the end of folder name (.../Graphisoft/ArchiCAD 14 EDU). After the installation I check if everything works and the I go and manualy change the name of ArchiCAD 14 EDU folder to something different.
Repeat the process and install commercial licence to i.e. /Graphisoft/ArchiCAD 14 folder. Again check if it is working ok, then go and rename the EDU folder back to the original name, that you defined upon edu installation. Now just make two shortcuts for ArchiCAD.exe (or ArchiCAD.app if you are on Mac).
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Gorazd Rajh
From AC 6.5 onward, Ryzen 9 5900HS, 48 GB RAM, RTX 3080, Win 11