Unable to Check In. Error: Error checking in all files: TF10123: The path... contains the character ':'. Remove the ':' and try again. No files checked in. (4290529)

Toad has been configured to use the external command-line client for VCS actions. Check Out and Undo Check Out actions complete as expected. Check-In fails due to an error with itemspec parameter of the request. Examing the VCS Command Log and the command line request, it looks like the command is malformed with regards to the source for check-in. The VCS command is similar to the following:

"C:\Program Files (x86)\Microsoft Visual Studio 14.0\Common7\IDE\TF.exe" checkin /comment:"Check-in #1"  $/ProjectABC/SectionA/Group1/H:\WorkSpaceRoot\ProjectABC\SectionA\Group1\SchemaSpec.Sample_PKG.PKB

The itemspec for the command line is concatenating the VCS location together with the fully specified mapped workspace file name on the local computer (H-drive path). TFS responds with the following error:

ERROR:

TF10123: The path $/ProjectABC/SectionA/Group1/H:\WorkSpaceRoot\ProjectABC\SectionA\Group1\SchemaSpec.Sample_PKG.PKB' contains the character ':'. Remove the ':' and try again.

Clearly, TFS identifies the ':' of 'H:\' as incorrect.