That path is correct but only contains the controllers bindings (inside wgs folder). You need two more things, found under the upper level folder, to have a complete backup:
That’s it. With wgs folder and the files listed above you have a backup of all required settings and all controller input assignments.
Cheers
Thank you kindly! Will make a copy of those then.
As a novice PC user, how do I go about doing this? I know the question maybe to big, but maybe a pointer to a youtube or internet site to get me started. Thanks
Yes can confirm that Macrium paid version has enabled many complete system restores over the years. Quick and easy to use and worth every penny for peace of mind.
I utilise a spare internal HDD + 3 external drives for backups and never had a problem restoring individual folders or complete drives.
What I would recommend is that you search youtube for “Win 11 back up for beginners” and start looking at a few videos that you can relate to (there are literally hundreds lol). There is nothing that has to be MSFS 2020 specific, just a general Windows back up to another internal drive, external drive or USB thumb drive will do. With most back up software such as Macrium Reflect you can either restore the data completely or mount the backed up volume in File Explorer and browse files and copy off specific files if you want.
Whatever back up strategy you settle in on I would recommend that it also include cloud storage such as MS OneDrive to mirror all of your day to day personal files, pictures, & music that will keep everything synced in real time. This gives you the flexibility to share files across multiple PC’s, phones, tablets, etc and also go back to older versions of any one file(s). The more significant total disk back up should be used for more catastrophic events such as your disk getting corrupted or has failed completely.
Again, there are many ways you can go about backing things up and there will come a day you will thank yourself you did it! 
Me again with another question. I have found the “localprofile” file in the LocalState folder and also the “usercfg.opt” file in the LocalCache folder. However, I cannot see an “exe.xml” file in the LocalCache folder as you described. I even used my go-to file finder “Everything” to search for exe.xml and it did not find it on any of my drives whatsoever.
Am I missing something
@geloxo can correct me, but I think the exe.xml file is only required by some 3rd-party addons. If you don’t have them, you won’t have the file.
Thanks kindly. I sort of came to that conclusion upon further searching the forum after posting my question so I greatly appreciate this confirmation.
I have a backup in the cloud but how do I know which files I need to restore my FS settings? An “Update” this morning totally lost most of my settings.
As written above that exe.xml is only required by some addons, which will trigger execution of some external apps. If you don’t have it that’s fine. You then don’t need it.
Cheers
meh. twice my total flying hours and game progress have been inadverdently wiped out due to server side glitches or updates. what’s the backup plan for that?
Hi @ztemplepilot ,
FYI, there are couple of Wishlist items for local backup functionality, if you wanted to vote for them: