Run Label Studio on python virtual env with a host and sub-path

Using this powershell script to start label-studio

$env:LABEL_STUDIO_DISABLE_SIGNUP_WITHOUT_LINK="true"
$env:LABEL_STUDIO_HOST=http://localhost:8080/foo
label-studio start --data-dir E:\label-studio-datadir

label-studio is not starting in the subpath I have provided. is there a bug?
Edge opens in http://localhost:8080/foo but label-studio says "Uh oh, this page doesn´t exist"