You don't need a second drive.
Just make a copy of mame.exe and rename it to something else.
For what you want to accomplish, you can just leave it in the same folder as the original mame.exe.
Last time I messed with this stuff (circa version .146) you could rename the mame.exe to something else and it would still work fine.
Have your front end use the renamed exe when lauching Hard Drivin.
Set up a logitech profiler profile for that other renamed exe.
The only tricky part is setting up your front end to launch that one game using the renamed exe.
How to do that depends on what front-end you have.
Never used it in conjunction with profiler, but I have used the multiple exe trick (usually in separate folders) to run certain games on different versions of MAME.
EDIT: Sorry I missed the part where you said you were using Hyperspin. I can't help you with Hyperspin.
Generally with a driving cab though, the number of playable games is small enoughthat IMO you're better off setting them up as PC games and having a separate batch file to launch each game.
That way all the arcade games can be launched from the same list regardless of whether they are on MAME, Demul, Vivanonno, etc.