The documentation says:
"rbxasset:// points to Roblox’s content folder on the user’s device. For example:
rbxasset://textures/face.png
Content folder:
%LOCALAPPDATA%\Roblox\Versions<version>\content"
A lot assets might be there, but many others I see used are not in that local folder. For example:
- rbxasset://textures/SpawnLocation.png
- rbxasset://textures/GunCursor.png
Even though the files for these assets don’t appear in my local Content directory, they load and function in Roblox Studio and games.