To re-iterate, NO it does NOT go in the same place the .exe is for strive.
Hit the windows key plus R to open the run dialog, paste in this:
%APPDATA%\Strive
That opens the game's data folder, it's in a completely separate place from where the Strive.exe file is. It's where your saves are stored. You should see a saves sub folder, as well as progressdata and settings.ini files.
This is where you make a mods folder and place mods. and what fusiontech45's image is a screenshot of. It is also where the Portraits and Bodies folders go.