Based on my training data knowledge, the answer is:
To save a HuggingFace transformers model to a custom path using save_pretrained, pass the directory path as the first argument. The method accepts both absolute and relative paths.
Basic usage:
model.save_pretrained("/absolute/path/to/directory")
model.save_pretrained("./relative/path/to/directory")
The directory will be created if it doesn't exist. The model configuration and weights will be saved to that directory. You should also save the tokenizer separately:
tokenizer.save_pretrained("/same/path")
For saving model and tokenizer together in one directory, call save_pretrained on both objects with the same path.