Help Me Understand Cache Management in Bridge CC 2019

I have updated my Windows 10 PC to Bridge 9.0.2.219 x64, and the Cache Management seems to have changed fundamentally.  In previous versions of Bridge, there was a preference to “Automatically EXPORT Cache to Folders When Possible."  This choice resulted in two files, “.BridgeCache” and “.BridgeCacheT” being created in each folder browsed by Bridge.  There was also a menu option under Tools > Cache > “Purge Cache for Folder ‘name’” that deleted and then recreated these two files in the folder being browsed.

In the new version of Bridge CC 2019, the preference to “Automatically EXPORT Cache to Folders When Possible” does not exist, and the two cache files
mentioned above are not created.  Instead there is a preference to “Automatically IMPORT Cache from Folders When Possible.”  Also, the option under the
Tools menu now says Manage Cache with a choice to “Build and export cache for folder ‘name’ and all enclosed folders.”  This results in a new folder named “.BridgeSharedCache.”

My conclusion is that the cache in the new version of Bridge is all stored somewhere centrally without the option to have it stored locally in each folder of images.  I would greatly appreciate it if someone in this knowledgeable forum would explain what is actually happening with the cache and if it is considered better than the old versions.

Chas