Yes, override set arguments -
choco install python2 -y -o -ia "'/qn /norestart ALLUSERS=1 TARGETDIR=c:\Python27'"
Alternatively, you can create a Python27 folder and it will be installed there.
Please note that this is determined by reading through chocolateyInstall.ps1 script - https://chocolatey.org/packages/python2#files
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