Welcome to McAfee. These centralized locations are referred to as repositories. I've attached the product guide for ePO 4.5. On page 130, it references the steps to set up a repository for the first time. Once your repository is created you will then need to point your agents to the new server and create client update tasks based on the frequency that you want your systems to pull down the latest software updates.
As an additional note, you can leverage McAfee's download servers as a backup to the repository that you create. This is especially helpful if you have laptop users that need to pull the latest DAT files but are not connected to your corporate network.
Hope this helps.
Team McAfee at Ciphent