When CEF initializes with a cache path set, and the cache is invalid, it tries to move the cache and regenerate it, but moving fails. Result is the cache switches to in memory usage.
The reason moving the corrupted cache appears to be due to Visited Links file being open by the new CEF process, so the folder move is blocked by the OS.
OS: Windows Server 2012 R2 Standard libcef.dll Version: 3.2623.1396.0 CefSharp Version: 49
Attached screenshot of console error log.