Just install 0.95 in a new folder. Patch 0.95.1 is just an updated SpaceEngine.exe, rewritten with the old .exe in 0.95 folder.
But won't the 9.4 stuff just use up space then?
Or am I misunderstanding you?
I'm interpreting that as:
> Don't uninstall 9.4
> Install 9.5 in a new folder seperate from where you did 9.4
> Replace the 9.5 exe in that folder with the 9.5.1
And even then, how would that keep the saved locations and such?