Library Player settings apply to all users on the computer.
The Settings menu may be disabled if Library Player is run on a restricted user account (if the user account set up the software then it may not be disabled).
You can hide the Settings menu within the settings, if you do this the settings can be accessed at any time by pressing CTRL+SHIFT+F12.
When restricting access to files across a network, ensure anyone using Library Player has the appropriate permissions to access the audio files.