macOS Catalina – iTunes Library on External Disk After Upgrade

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I keep my iTunes library on an external hard drive as it is quite large.
I was able to select this library or my other library that is stored on my mac by holding the option key while opening iTunes. As in Catalina iTunes is split into multiple apps, I was wondering what will happen to my library. Particularly, as it is stored on a separate hard disk. Will it get automatically split into separate parts or do I have to do something manually? Am I going to be able to have the possibility of having multiple libraries and open them by doing the same trick (holding the option key) as before?

Best Answer

This is too late but it might be good to have it here as a reference in the future. The answer is yes, however, Podcasts and Books are stored locally on the system volume as suggested in a comment.