PYTHONPATH with limited access directories and shared Anaconda installation

Question

We have a shared Anaconda install on a Windows 2016 server where users have varied access rights. We set PYTHONPATH to point a network drive (P:/code) to enable the import of custom modules. When a user who does not have access to P:/code attempts to launch Anaconda, Anaconda fails to start and gives this message:

Fatal Python error: initfsendcoding: unable to load the file system codec OSError: [WinError 59] An unexpected network error occurred: 'P:\code'

Any thoughts on the best way to handle this? I'm aware of these options:

1. Remove P:/code from PYTHONPATH (this then breaks custom module imports)
2. Grant new user access to P:/code (violates least privileges)
3. Switch to User (vs System) Environment Variable (users must understand how to set these variables and must do so across a pool of servers)
4. ???

Ideally, for me, Anaconda would accept that the user doesn't have access to a particular directory and continue on but this doesn't appear to be in the cards.