Trying to understand qt.conf for configuration of plugins.

The qt.conf file is located at C:\Program Files\MyCompany\Bin

Using the following content works fine:
[Paths]
Plugins = QtPlugin

Using the following content does not load the plugins
[Paths]
Plugins = C:\Program Files\MyCompany\Bin\QtPlugin

I have also tried "C:\Program Files\MyCompany\Bin\QtPlugin" and "C:\\Program Files\\MyCompany\Bin\\QtPlugin" but neither work.

So why does not absolute path work?