I have implemented feature #5370 "User should be able to set the binary path for each database server." I have added "Utility path" control in the Advanced tab of the server dialog, refer to the image below:
If the above path is set by the user then will pick that else we will pick the default binary path of the preferences dialog (if set). In case utility is not found on the specified path we raise the popup dialog with the modified error message.
If the above implementation looks good then, I'll commit this feature by today's EOD.