Saved game files for The Bard's Tale IV: Director's Cut are located at:
C:\Users\<your username>\AppData\Local\BardsTale4\Saved\SaveGames
Save game location (The Bard's Tale IV)
Saved game files for The Bard's Tale IV: Director's Cut are located at:
C:\Users\<your username>\AppData\Local\BardsTale4\Saved\SaveGames