Clicking on the path already brings up a folder browse dialog.
It allows me to change the location, however there is no way to explore the folder from that menu.
Are you wanting to open a browse that shows existing logs?
It shouldn't be that hard to be implemented for those who need direct access to the log files.
If so, you have Log Files in the Tools menu that lets you browse the log files.
Even from there, you can't browse the actual files.