Just be on the lookout for 'Add on required' and 'Pro Exclusive' tags for differences in the programs. Note Pro and Express use the same manual. I beta test for FXhome and have had the custom folders I want for them set up for a year. Issue Audio tracks play with low quality (e.g., static, noise) when played simultaneously with the video track of a captured movie clip in Adobe Premiere.

Proxies and the Timeline Cache both write to their own folders. In general you want proxies for clips that won't need heavy VFX (maybe just color correction) for speed, while clips that need precise masking or animation should have no proxy, so you can see all your detail. Checking the box sets default behavior and to change it you have to drill down into the Options menu. The box you see has a 'Do not show again.' Do NOT check this until you've determined via testing your preferences between the three options. When judging timing of an edit smoothness is more important than resolution. Proxies are for editing and are not used on Export - on lower end systems a Performance proxy is intended as a trade off between speed/smoothness and resolution. My video clips play just fine but its only when it comes to the transition part that it lags.

You can right click media in a Timeline and rebuild proxies to either quality setting, or choose to use the original media. Im using hitfilm express 4 and whenever I add a transition to my videos and try to play it back to see if it fits my video timing it will lag when it gets to the transition. You can right click media in the Media Bin and rebuild proxies to either quality setting. Performance proxies will be lower resolution than Quality proxies. U/vasyrr has given an excellent definition of proxies, so I just have some additions.

Hitfilm express laggy