From my experience, there is no way to shrink that file.
Here is what I did to get rid of it,
First write down the directory you have already selected.
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Create a new file to a directory other than the one your current file resides.
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Open
Windows Explorer(or some other way to change directories. e.grunetc) and navigate to the directory of your initial (large) file (the one you wrote down).
Inside you should see aMANUALCACHE.CCCfile. It’s size should match the size you have originally selected in manual cache settings. -
Delete that file.
You should see your storage size get back to what it was before you created that file.