API page: https://api.drupal.org/api/drupal/core%21lib%21Drupal%21Core%21Render%21...
The docs for this say:
path: Override the path of the file to be used. Ordinarily the module or theme path will be used, but if the file will not be in the default path, include it here. This path should be relative to the Drupal root directory.
But this is not quite true. As seen in Drupal\Core\Theme\Registry:
* In case of a theme template file:
* - path: The path to the template file to use. Defaults to the
* subdirectory 'templates' of the path of the extension implementing
* hook_theme(); e.g., 'core/modules/node/templates' for Node module.
It's a 'templates' subfolder in the module.