There is not a lot of gain from what you propose. There is, of course, equal chance also of your E drive failing.
But, in the event that you wished to reinstall the OS, you would still need to reinstall your third party software, in order to associate paths and .dlls..etc.
But, if you wish to go ahead that is, of course, your decision. Best way, imo, is to reinstall but direct the path to your drive E. Most programs offer an option for where to install, at the commencement of the process.
fwiw. As well as the install originals, I keep all my own installation software on DVDs or CDs. This is a double backup should I have a major breakdown
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